BS reported that the steel mills in Karnataka which participated in the E auction of iron ore last week will have to wait a bit more to get physical delivery.

As per report, MSTC Ltd, which held the E auction, is yet to put in place the required software for issue of transport permits to the successful bidders.

The report said that the monitoring committee appointed by the Supreme Court to oversee the process of E auctions has to enable installation of the software on the MSTC website. The process is likely to take till September 21.

After this, the department of mines and geology will start issuing the mineral dispatch permits to successful bidders, after they pay royalty and forest development tax.

This delay is expected to hurt small and medium sized mills in Karnataka, grappling for six months with an ore availability problem.

(Sourced from business-standard.com)