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Odisha to notify auction of mines next week

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Odisha Sun Times Bureau
Bhubaneswar, Dec 17:

The much-awaited notification for auction of mines under the amended MMDR Act will be issued next week on Tuesday or Wednesday, informed director of Mines Deepak Mohanty here today.

mines

“Today we have inked an agreement with SBI Capital Markets (SBI Caps). They have been engaged as transaction advisor to facilitate us in the auction process. According to their preparations we feel by Tuesday or Wednesday in the next week we will issue notification for e-auction,” said Mohanty briefing newsmen here.

In the first phase two iron ore mines will be put up for auction, the Mines director said adding that MSTC Ltd has been appointed as the auction platform while SBI Caps has been appointed as the transaction advisor.

Deepak Mohanty Director Mines Odisha

Mines department sources said two iron ore blocks – Ghoraburahani-Sagasahi East block and Jhunka-Patriposi blocks – with combined reserves of over 140 million tonnes will be auctioned in the first phase

Since one of the two mines is of G-3 level permission has been sought from Centre for its tender, the sources added.

The state government has completed process for auctioning of 12 mines in the state, Mohanty said.

He however, said auctioning of these mines will take place in phases, two at a time.

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