JSW Steel has emerged as the preferred bidder for the Jaisinghpura North Block iron ore mine in Karnataka. The auction was held on 02 August, 2023.
The highest final offer price by the company to become a 'preferred bidder' is 150.3 percent of the value of the mineral dispatched. The projected iron ore resource is 17.66 in million tonne.
The company was apprised regarding this vide communication dated 11 October, 2023.
Furtheron, the company will obtain a letter of intent (LoI), and all statutory clearances to execute the lease deed with Mine Development and Production Agreement (MDPA), and start the mining operations.