JSW Steel Ltd announced on Tuesday that it has been declared as the preferred bidder for the Codli Mineral Block XII at Dharbandora in Goa. The company received confirmation from the Directorate of Mines & Geology, Government of Goa, according to its exchange filing.
JSW Steel emerged as the preferred bidder with the highest final offer price of 92.60% of the value of mineral dispatched. The Codli mineral block boasts projected iron ore resources of 48.5 million tonnes, along with an additional 2.7 million tonnes of ore in dumps.
The company stated that it will undertake all necessary steps to obtain the Letter of Intent and statutory clearances, execute the lease deed with the Mine Development and Production Agreement (MDPA), and commence mining operations.
This development marks a significant milestone for JSW Steel, strengthening its position in the iron ore mining sector and boosting investor sentiment, reflected in the rise of its share price.
