Approximately 120,000 Tons of Iron Ore Auctioned in India's Odisha

en.Wedoany.com Reported - In the iron ore e-auction held by India's Odisha from July 2 to 3, 2026, a total of approximately 119,750 tons of iron ore were transacted. Among these, the Bolani mines under the Steel Authority of India Limited (SAIL) sold about 80,000 tons of fresh fines (iron grade 59.5%-61%) at prices ranging from 3,850 to 4,727 Indian rupees per ton (approximately $46 to $57); additionally, 20,000 tons of tailing fines (iron grade 60.22%) were sold at 4,000 Indian rupees per ton (approximately $48).

Steel Authority of India Limited (SAIL), established in 1973 and headquartered in New Delhi, is India's largest state-owned steel producer with an annual crude steel capacity exceeding 20 million tons, holding a core position in India's steel industry. The Bolani mines, located in the Keonjhar district of Odisha, are one of SAIL's key iron ore production bases, primarily supplying sinter feed and lump ore.

Odisha, situated on India's eastern coast, is the country's largest iron ore-producing state, holding approximately 50% of India's iron ore reserves, mainly distributed in districts such as Keonjhar, Sundargarh, and Mayurbhanj. In fiscal year 2025, the state's iron ore output was approximately 155 million tons, making it the most important raw material supply source for India's steel industry.

India's iron ore e-auction is a key mechanism for optimizing resource allocation and promoting transparent transactions in the country's mining sector. Through the e-auction platform operated by MSTC Limited, mining companies can publicly bid to sell ore to steel producers. According to previously released information from the Odisha government, the state has planned auctions for 34 mineral blocks for fiscal year 2026-27, covering various minerals including iron ore, manganese ore, and bauxite.

This auction is part of a series of auction activities in Odisha in July 2026. The transaction of nearly 120,000 tons of iron ore provides an important raw material supplement for steel enterprises in eastern India, reflecting the sustained demand of India's domestic steel production for local iron ore.