A consortium of Indian steel and mining firms led by the Steel Authority of India Limited has bid for four blocks of mines in Afghanistan.

The Hajigak mines, which are estimated to have a reserve of 1.8 billion tonnes of magnetite with 62% to 63% iron content, have attracted five other bids targeting various numbers of blocks.

The announcement of preferred and reserved bidders is expected around October 4th 2011.

(Sourced from Reuters)