JSW Steel declared preferred bidder for iron ore block in Maharasthtra

The company has been declared as a preferred bidder vide communication dated May 15, 2023, received from the Directorate of Geology and Mining, Maharashtra on May 16, 2023, for composite licence of an unexplored iron ore mine Surjagad 4 iron ore block in Gadchiroli district in Maharashtra, in the auctions held by the state government on May 12, 2023, it said.

JSW Steel on Wednesday said it has been declared as the preferred bidder for an unexplored iron ore mine in Maharashtra. 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, JSW Steel said in a BSE filing. ''The company has been declared as a preferred bidder vide communication dated May 15, 2023, received from the Directorate of Geology and Mining, Maharashtra on May 16, 2023, for composite licence of an unexplored iron ore mine (Surjagad 4 iron ore block in Gadchiroli district) in Maharashtra, in the auctions held by the state government on May 12, 2023,'' it said. The highest final offer price by the company to become a preferred bidder is 131.05 per cent of average monthly prices of iron ore of different grades and quality published by Indian Bureau of Mines in the State of Maharashtra from time to time.