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SunSirs: India’s GSMishra & Sons secure mining rights at Gorumahisani iron mine

February 17 2020 08:59:06     SunSirs (Molly)

On February 11, India ’s GhanashyamMisra & Sons Mining Company successfully retained the mining right of the Gorumahisani iron ore area at a 115% premium in the auction in Orissa.

A total of 11 mining companies participated in the auction this time. The iron ore reserves of the mine are about 17.6 million tons, and the starting premium of the block is 66.25%. In the electronic auction, GhanashyamMishra & Sons became the highest bidder. This is the 11th of 19 auctioned mines in Orissa.

In addition, on February 9, SociedadDeFomentoIndustrialPvtLtd Mining Company, headquartered in Goa State, promised to pay an average premium of 141.25% to the state government, and successfully acquired the mining rights of the Nadidih Iron Mine.

Na Patnaik Minerals Pvt Ltd acquired the mining rights of the Mahulsukha iron and manganese mines in Orissa for a 92.70% premium last Saturday.

On February 7, Khatua Narbheram & Co., headquartered in Kolkata, retained the mining right of the RoidaII iron ore area at a premium of 90.90%.

So far, JSW has won four mining areas, namely Nuagaon (January 31), Narayanposhi (February 2), Ganua (February 5) and Jajang (January 6). 1.138 billion tons.

On February 5th, ShyamOre paid a 135% premium to the company's Jilling-Langalota iron ore mine in Keonjhar District, Orissa.

In the early morning of February 4, Serajuddin & Co won the Balda iron ore area in the auction.

Note: The premium in the text refers to an additional tax paid by Indian mines on the base price set by the Mining Bureau. The premium is updated quarterly.

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