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JSW Steel Declared Preferred Bidder for 3 Iron Ore Mines in Karnataka

Steel News - Published on Thu, 01 Aug 2019

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JSW Steel Limited announced that it has been declared as the Preferred Bidder for three iron ore mines with an estimated resource of around 92.97 million tonnes in the auctions held by the government of Karnataka in July 2019. The three mines are Narayanpura Manganese & Iron Ore Mine, Dharmapura Iron Ore Mine & BBH Mines. It announced “The weighted average highest final offer price by the Company to become a "Preferred Bidder" for these three mines is 78.88% of average monthly prices of iron ore of different grades and quality published by Indian Bureau of Mines in the State of Karnataka from time to time. The Company will take all requisite steps as per the tender document to obtain Letter of Intent, all statutory clearances, execute Mine Development and Production Agreement and start the mining operations.”

Earlier in October 2016 and September 2018, JSW Steel was declared as the Preferred Bidder for 6 Category "C" iron ore Mines having estimated resource of around 120.714 million tonne, in the e-auctions conducted by the Government of Karnataka.

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Posted By : Ratan Singh on Thu, 01 Aug 2019
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