Vedanta emerges as winner for iron ore block in Goa

12 Jun 2023 , 10:41 AM

Vedanta Limited informed on Sunday that the miner has been declared as ‘preferred bidder’ for an iron mine situated in Goa.

The Goa government had invited bids for an electronic auction to award mining leases for iron ore mines in the state, according to a regulatory statement from the company.

The company has submitted its bid for grant of mining lease with the government of Goa.

Vedanta stated in its media filing, “In accordance with the notice issued by Directorate of Mines and Geology, dated June 9, 2023, the company has been selected as the ‘preferred bidder’ for electronic auction of Cudnem mineral block – block VII, Goa. Vedanta has quoted the highest final price of 93.15%.”

According to Vedanta Ltd, the Goa government’s grant lease is conditional on making the necessary payments and fulfilling the other terms and conditions of the tender document.

Following this development, Vedanta was trading 0.60% higher at Rs 278.40, against the previous close of Rs 276.75 on NSE.

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