Merchant miners may confront losses after Odisha's auctions

While the Ordinance has bulldozed fears of disruption in iron ore supplies, the viability of merchant producers is at stake

Intense bidding at the recently concluded online auctions of 19 iron and manganese ore blocks in Odisha has cast doubts on the viability of merchant mine operations in the state.

The highest premium quoted at electronic auctions of the merchant mine blocks stood at 154 per cent for Siljora-Kalimati mine now under the leasehold of M L Rungta. The mine has been bagged by Debabrata Behera. Auctions witnessed a frenetic bidding activity with average premium being 106 per cent. Sajjan Jindal controlled JSW Steel was the key disruptor at Odisha's mine auctions, pocketing four mines, three of them for merchant