India: NMDC auctions over 12 mnt of iron ore slime from Chhattisgarh
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- 9 mnt sold from Bacheli, 3.5 mnt from Kirandul booked at base prices
- Auctioned volumes linked to long-term commitments, evacuation between 3-4.5 years
NMDC Chhattisgarh's iron ore slime auctions held on 9 June 2026 witnessed strong buyer participation with bids fetching premiums over the set base prices.
At the Bacheli complex, around 9 mnt of iron ore slime was auctioned and sold at INR 2,500/t. While the exact specifications of the material offered in this auction were not available, the slime offered in NMDC's previous auction was of Fe 56% grade, with SiO2 13-15%, Al2O3 2-3%, and P 0.030-0.050%. In the company's last auction held on 5 June 2026, Bacheli slime sold at a premium of INR 50/t over the base price of INR 1,450/t.
Meanwhile, at the Kirandul complex, around 3.5 mnt of iron ore slime was offered and sold at a base price of INR 3,610/t. The material offered in the previous tender was of Fe 59.5%, SiO2 avg 8%, Al2O3 avg 3%, P 0.040%, and moisture 7%. In the previous auction held on 5 June, Kirandul slime gained a premium of INR 1,100/t over the base price of INR 1,700/t, reflecting healthy buyer interest for higher-grade slime material.
Prices are on FOR/FOT basis and exclude royalty, DMF, and NMEDT. The auctioned volumes are linked to long-term delivery commitments, with evacuation likely to take between three and four-and-a-half years.
Notably, slime is ultra-fine iron ore material generated from historical mining, beneficiation, wet screening, and desilting operations at NMDC mines, and stored in desilted yards and/or tailing ponds. With advancements in beneficiation and pelletisation, these materials can now be upgraded and utilised by pellet plants and steel producers.
NMDC is auctioning iron ore slime primarily to monetise a large accumulated inventory, improve mine housekeeping, and unlock value from material that was historically treated as a low-value by-product of mining and beneficiation operations.
