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KIOCL Limited, an Indian government-run pellet producer, is looking for a domestic supplier for 200,00 MT of iron ore fines under an agreement according to which the supplier would receive an equivalent volume of pellets for onward export sales. According to the sources, suppliers of iron ore fines, mine owners, dealers, or stockists can submit bids by May 17.
However, to be qualified as a supplier, it must guarantee that it will remove 200,000 MT of iron ore pellets from KIOCL Limited and export them as a "third party" exporter.
The sources said supplier bids will be evaluated based on the differential value of the price at which the pellets will be lifted and the price at which iron ore fines will be supplied.
Bidders interested only in making partial supplies can submit bids in multiples of 50,000 MT, but under the condition that it will lift pellets for subsequent export equivalent to the volume of iron ore fines supplied, the sources added.
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