Bhubaneswar: Goa based Sociedad De Fomento Industries has bagged the Nadidih iron and manganese mine in Odisha’s Sundergarh district by offering a staggering premium of 141.25%. The mines was put under the hammer on Sunday and had as many as 10 mining companies bidding for it.
The mines, spreads over an area of 121.405 hactares, promises an estimated ore reserve 20.48 million tonnes. One of the oldest mine in the Koira mining sector, it has been in operation since January 1961. The lease of the block was earlier with Bonai Industrial Company Ltd (BICO).