JSW Steel chosen as preferred bidder for Jaisinghpura North Block iron ore mine in Karnataka

12 Oct 2023 , 09:03 AM

JSW Steel said on Wednesday that it was the selected bidder for the Jaisinghpura North Block iron ore mine in Karnataka. JSW Steel notified the exchanges that it had received a communication from the Karnataka government in this regard.

The company’s highest final offer price to become a ‘Preferred Bidder’ is 150.33% of the value of the mineral delivered. The estimated iron ore resource is 17.66 million tonnes (MMT).

The company will follow the tender document’s instructions to secure a letter of intent and all statutory permissions in order to complete the Lease Deed with Mine Development and Production Agreement (MDPA) and begin mining operations.

JSW Steel, a subsidiary of the JSW Group, is a significant steel manufacturer in India.
 

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