DNA reported that after conducting 17 E auctions to the satisfaction of the supervising committee, MSTC has now sought mandate to auction off iron ore mined in other states as well.

Mr SK Tripathi CMD of MSTC said “The E auction model can be replicated in other states as well. We have the best possible IT infrastructure which is inspected periodically by the experts concerned.”

In 17 online auctions so far, MSTC has sold 11.272 million tonne of the Karnataka ore, both high and low iron content, for INR 2,601 crore, generating a per tonne realization of INR 2,307.50.

(Sourced from DNA)