JSW Steel has received official communication from the Directorate of Mines and Geology in Goa, declaring it as the "Preferred Bidder" for an iron ore mining lease. This significant announcement was made following auctions held by the State Government of Goa. The two blocks in question are the Cudnem-Cormolem Mineral Block and the Surla-Sonshi Mineral Block located in North Goa. These blocks have substantial projected iron ore resources of 9.77 million metric tons and 65.73 million metric tons respectively.To secure the status of "Preferred Bidder," the Company offered the highest final prices, surpassing 96.65% and 109.80% of the value of mineral dispatched for the Cudnem-Cormolem and Surla-Sonshi blocks, respectively. This achievement positions the Company as the leading contender for the mining lease in Goa.Moving forward, the Company will diligently follow all necessary steps outlined in the tender document to obtain the Letter of Intent. This will be accompanied by obtaining all required statutory clearances to facilitate the execution of the Lease Deed with the Mine Development and Production Agreement (MDPA). Once these processes are completed, the Company will be able to commence mining operations in the designated areas.
JSW Steel has received official communication from the Directorate of Mines and Geology in Goa, declaring it as the "Preferred Bidder" for an iron ore mining lease. This significant announcement was made following auctions held by the State Government of Goa. The two blocks in question are the Cudnem-Cormolem Mineral Block and the Surla-Sonshi Mineral Block located in North Goa. These blocks have substantial projected iron ore resources of 9.77 million metric tons and 65.73 million metric tons respectively.To secure the status of "Preferred Bidder," the Company offered the highest final prices, surpassing 96.65% and 109.80% of the value of mineral dispatched for the Cudnem-Cormolem and Surla-Sonshi blocks, respectively. This achievement positions the Company as the leading contender for the mining lease in Goa.Moving forward, the Company will diligently follow all necessary steps outlined in the tender document to obtain the Letter of Intent. This will be accompanied by obtaining all required statutory clearances to facilitate the execution of the Lease Deed with the Mine Development and Production Agreement (MDPA). Once these processes are completed, the Company will be able to commence mining operations in the designated areas.
