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The State-promoted Gujarat Minerals Development Corporation Ltd (GMDC) on Thursday said it has inked a pact of sale for non-plant grade bauxite with a Hyderabad-based company that would help GMDC earn Rs 20 crore.
GMDC, known for its multi-mineral and mining expertise, said it would provide bauxite from its Gadhsisa bauxite mines in Kutch district.
After a bidding process, GMDC struck a bulk sale deal to sell 2.35 lakh tonnes of bauxite with alumina content ranging from 40 to 52 per cent to the Hyderabad-based Anrak Aluminium Ltd for value addition.
Anrak offered the highest bid of Rs 743 per tonne of bauxite, GMDC Managing Director, Mr V. S. Gadhvi, said here on Thursday in a statement.
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