BHUBANESWAR | Oct 26, 2016: The state government on Wednesday issued a notification inviting tenders for e-auctioning of four mines in the state. As per the notification of the Steel and Mines department, three limestone and one manganese blocks will be auctioned in electronic platform.

The state government has invited bids for Usakalabhagu and Kotameta limestone mines in Malkangiri district, Garamara limestone mines in Nuapada district and Lasarda-Pacheri manganese block Keonjhar district. The last date for purchase of tender documents is December 5 and the last date for submission of bid is December 12, 2016, said the notification.

It is expected that the e-auction process of the mines would be completed in January. Metal Scrap Trade Corporation (MSTC) Ltd would facilitate the online auction of mines. The government has engaged SBI Capital Markets Ltd (SBI Caps), a fully owned subsidiary of State Bank of India, as its transaction advisor for the auctioning of mines in the state.

The transaction advisor would assist the state government in fixing the floor price for auctions. The state government has auctioned only one iron ore mine under the amended Mines and Mineral Development and Regulation (MMDR) Act, 2015. Essar Steel bagged the Ghorhaburhani-Sagasahi iron ore block, which was auctioned earlier this year.

(Source: http://www.newindianexpress.com/)