Bengaluru : JSW steel has secured Jaisinghpura North Iron Ore Block in Karnataka. The company which had offered 150.3% of the value of Mineral dispatched has been declared as the preffered bidder by the Director, Department of Mines and Geology, Government of Karnataka.
“The Company has been declared as a “Preferred Bidder” vide communication dated October 11, 2023 received from the Office of the Director, Department of Mines and Geology, Government of Karnataka, for Jaisinghpura North Block, in the Auction held on 21.08.2023. The highest final offer price by the Company to become a “Preferred Bidder” is 150.3% of the value of Mineral dispatched. The projected Iron Ore Resources is 17.66 in MMT” JSW Steel said in a regulatory filing.
“The Company will take all requisite steps as per the tender document to obtain Letter of Intent, all statutory clearances to execute the Lease Deed with Mine Development and Production Agreement (MDPA) and start the mining operations”.