PM Granites bags Kanter-Koira Manganese block

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Bhubaneswar: PM Granite Exports (pvt) ltd has bagged Kanthar–Koira Manganese block located in Sundergarh district of Odisha. The mines has estimated Manganese reserve of 0.615 million tonens.

Six mining companies Rungta Mines, Yazdani, TP Sao, Vedanta, Anand Exports & PM Granite in were in the race for the mines.

The company has won the bid after committing to pay a premium of 110%, which means that the company would pay Rs.110 to the Odisha Government for each Rs.100 it would earn by selling the material. Apart from this, the company will have to pay royalty, DMF to the government.


Auction of 19 mineral blocks concludes 


With today’s auction, the auction process for 19 mining blocks has concluded. Out of 19 mines, steel major JSW steel has bagged maximum 4 blocks Nuagaon, Narayanposhi , Ganua and Jajang Iron Ore mines with combined Iron Ore reserve of 1130 million tonnes. The company is planning to start mining operations as soon as possible after getting requisite statutory clearances. These mines will ensure raw materal security for the company’s proposed 12 MTPA (Million Tonnes pwe annum) integrated steel project near Paradip Odisha.

Apart from JSW, global steel giant Arcelor Mittal has bagged the Thakurani Iron Ore block with estimated Iron Ore reserve of 179 million tonnes.

In December the government of Odisha had cancelled auction of 29 mining blocks including 12 Iron Ore, 2 Manganese and 6 Iron & Manganese blocks, after complaints of irregularities and invited fresh bids for 19 blocks. The government is likely to invite bids for the rest 10 blocks before March.

As per the amended Mining & Minerals (Development & Regulation) Act 2015, the lease period all merchant mines will expire by March 31st.

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