JSW Steel has been chosen as the preferred bidder for the Codli Mineral Block XII in Dharbandora, Goa. The company received official confirmation from the Directorate of Mines & Geology, Government of Goa.
Key Details:
- JSW Steel’s bid was the highest, offering 92.60% of the value of the mineral dispatched.
- The block has an estimated 48.5 million tonnes of iron ore resources, plus 2.7 million tonnes of ore in dumps.
- JSW Steel plans to take necessary steps to secure a Letter of Intent and other required clearances to finalize the lease and begin mining operations.
In another update, JSW Steel’s Italian subsidiary, JSW Steel Italy, signed a commercial agreement with Metinvest Adria S.p.A. The deal involves Metinvest paying a €30 million release fee to JSW Steel Italy for the transaction.
This acquisition is part of JSW Steel’s strategy to expand its mining portfolio and strengthen its position in the global market.
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