Vedanta emerges as preferred bidder for Block I ‐ Bicholim Mineral Block

23 Dec 2022 , 01:40 PM

Vedanta Limited informed that the Goa Government via its ‘Notice Inviting Tender’ dated September 30, 2022, invited tenders to participate in an electronic auction for the grant of a Mining Lease for iron ore mines in the state of Goa.

The company bid in an electronic auction for the grant of a Mining Lease.

According to the notice dated December 22, 2022, issued by the Directorate of Mines and Geology, Government of Goa, Vedanta has been declared as the ‘preferred bidder’ in respect of the e-auction of Block I Bicholim Mineral Block based on the highest Final Price Offer of 63.55% submitted by the company.

According to the tender document, the resources of Block I Bicholim Mineral Block total 84.92 million tonnes.

The grant of a mining lease by the Government of Goa in respect of the aforementioned mine is conditional on making the necessary payments and fulfilling the other terms and conditions of the Tender Document.

At around 1.41 PM, Vedanta was trading 4.15% lower at Rs289.50, against previous close of Rs302.05 on NSE. The counter hit intraday high and low of Rs300.85 and Rs289.20 respectively.

For feedback and suggestions, write to us at [e-mail]