Steel firms paying high price for captive iron ore mines to ensure supply

Of the 27 mineral blocks auctioned to date, 10 are iron ore blocks

The auction of iron ore blocks in the country has shown steeper competition and higher price bidding for blocks reserved for captive use when compared with those meant for a non-captive purpose.

Five of the nine iron blocks meant for captive use have gone to bidders with quotes of more than 100 per cent revenue-sharing with the states of their location.

Till date, 27 mineral blocks have been auctioned out of which 10 are iron ore blocks. Of these 10 blocks, nine were reserved for captive use while one was earmarked for the non-captive purpose.

Even the single mine meant