It shouldn’t be zero. The mine will come up for re-auction. The planning for forward capacity is with an intent to save the mine. From what I understand, as per rules, there is preference for captive mine owners and they have first right of refusal.
Many of these things will depend on circumstances at that time. But yes, the profitability will get impacted if there is lot of competition.
But this is true for almost all the mines in India and this is the reason there is arbitrage/advantage for mine owners whose mines are not to come up for renewal soon enough. Perhaps this is also the reason why iron ore prices are not falling hard in India (when international prices are falling) unlike the moves in past.
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