Tata Steel subsidiary bags second chrome mine after Misrilall in e-auction in Odisha


Tata Steel subsidiary bags second chrome mine after Misrilall in e-auction in Odisha

TS Alloys, a Tata Steel subsidiary, has emerged as the highest bidder for the Saruabil chrome deposit in Odisha, currently held by Misrilall Mine Ltd with a bid of 88.5 per cent of the sale value of the mineral. Late on Wednesday night it also won the much smaller Kamarda deposit held by BC Mohanty and Sons with a bid of 96.8 per cent according to those in the know.

The current leases come to an end on March 31, 2020 along with Tata Steel’s own Sukinda chrome mine. This is the first of the working mines lapsing in 2020 to be successfully auctioned by Naveen Patnaik’s government which has more than 20 iron ore mines similarly lapsing in March in the pipeline.

The higher the bids the more the state government stands to earn (aside from royalty and taxes) provided the mine is operationalised. Read More

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