Feb 16 – Odisha based Agravanshi Private Limited has emerged as the highest bidder for Curpem and Sulcorna Mineral Block-XI at the iron ore mine e-auction, offering a premium of 95%. The block, of around 87.64 Ha, is located in South Goa and has 9.79 million metric tons of iron ore reserve. The mine comprises deposits of average-grade Fe 56.17%. Vedanta Limited had initially emerged as the highest bidder in the e-auction concluded on November 14, last year. The company had challenged the Directorate of Mines and Geologies(DMG) decision to resume the auction process after Agravanshi who was also bidding for the block, claimed to have faced a ‘server error’ during the final bidding period. High Court had allowed DMG to go ahead with the fresh bidding, dismissing Vedanta’s challenge over a technical glitch claim by the rival bidder Agravanshi. Supreme Court had also upheld the High Court order.
