Odisha issues notification for auction of 4 mines

Bhubaneswar, Oct 26:

The Odisha government on Wednesday issued a notification inviting tenders for auctioning of four mines in the state.

The steel and mines department of the state government issued the notification to e-auction three limestone and one manganese mine.

The government invited bids for Uskalvagau, Kottameta and Garraamora limestone mines and Laserda-Pacheri manganese ore mine. The mines are located in Malkangiri, Keonjhar and Nuapada.

The last date for purchase of tender documents is December 5 and the last date for submission of bid is December 12 this year, said the notification.

It is expected that the e-auction process of the mines would be completed in January.

So far, the state government has auctioned only one iron ore mine under the amended Mines and Mineral Development and Regulation (MMDR) Act, 2015.

ESSAR Steel had bagged the Ghorhaburhani-Sagasahi iron ore block, which was auctioned earlier this year.

Metal Scrap Trade Corporation (MSTC) Ltd would facilitate the online auction of mines. The government has engaged SBI Capital Markets Ltd (SBI Caps), a fully owned subsidiary of State Bank of India, as its transaction advisor for the auctioning of mines in the state.

The transaction advisor would assist the state government in fixing the floor price for auctions. (IANS)