JSW Steel has emerged as the preferred bidder for the composite licence of an unexplored iron ore mine in Maharashtra, in the auction held by the state government on 12 May, 2023.
The steel producer succesfully bid for the Surjagad-IV iron ore block in Gadchiroli district of Maharashtra. The site is known to have reserves of high-grade iron ore.
The highest final offer price by the company is 131.05 percent of the average monthly prices of iron ore of different grades and quality, as published by Indian Bureau of Mines (IBM) in Maharashtra from time to time.