Date | Sept 20, 2016:

The southern Indian province of Karnataka will commence auction of 14 iron ore mines as of next month, exclusively for end-use industries, a government official said on Tuesday, September 20.

He said that the auction of these mines is slated to have started in August but was delayed owing to differences over finalization of local level tax issues which has now been resolved between the government and prospective bidders.

The government official said that companies engaged in production of steel, sponge iron and pelletization will be eligible to bid that the forthcoming auction of the iron ore blocks.

These 14 iron ore blocks were all operational mines where production was stopped and blocks were seized following an order of the Supreme Court on illegal mining.

(Source: https://www.steelorbis.com/)