Deals19 Nov 2024, 10:53 pm
JSW Steel Declared 'Preferred Bidder' for Codli Mineral Block - XII in Goa
AI Summary
JSW Steel Ltd. has been declared as the 'Preferred Bidder' for the Codli Mineral Block - XII, Dharbandora, in the State of Goa. The decision comes after the Company participated in the forward auction for granting the Mining Lease of the block. JSW Steel was selected with the highest final offer price at 92.60% of the 'Value of mineral dispatched'. The projected Iron Ore Resources for the block are 48.5 million tonnes, with an additional 2.7 million tonnes in dumps. The Company will take necessary steps to obtain the Letter of Intent, statutory clearances, and execute the Lease Deed with Mine Development and Production Agreement (MDPA) to start the mining operations.
Key Highlights
- JSW Steel declared 'Preferred Bidder' for Codli Mineral Block - XII in Goa
- Selected with the highest final offer price at 92.60% of 'Value of mineral dispatched'
- Projected Iron Ore Resources: 48.5 million tonnes + 2.7 million tonnes in dumps
- Company to obtain Letter of Intent and statutory clearances
- Plans to execute Lease Deed and start mining operations