A JSW Steel (NSE:JSWSTEEL, BOM:500228) subsidiary has been declared as the preferred bidder for the mining lease of Codli Mineral Block XII in Dharbandora, Goa, India, according to a Tuesday filing to the stock exchanges.
The projected iron ore resources of the block is estimated at 48.5 million tons in addition to 2.7 million tons of ore in dumps.
JSW Steel gave the highest final offer price at 92.60% of value of mineral dispatched to emerge as the preferred bidder.
The company said it will take all the requisite steps to secure the letter of intent and all statutory clearances to execute the lease deed and begin mining operations.
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