Undeterred by the poor response last month, Odisha Mining Corporation Limited (OMC), the mining arm of the government of the eastern Indian state of Odisha, will offer 50,000 metric tons of high grade iron ore fines for auction later this month, a government official said on Tuesday, July 5.
The official said that the miner is optimistic for a vastly improved response and bids at the forthcoming auction as the volumes on offer is from OMC’s prized mines at Daitari and consists of a lot of with Fe content in the range of 62-64 percent, demand for which is still very high both among pellet manufacturers and steel producers.
Last month, OMC offered a higher volume of 245,000 metric ton of iron ore fines and lumps for auction which, according to the official, received a response for not more than 15-20 percent of the total volume.