Successful bidder of Gold Mine

| Updated on February 29, 2016 Published on February 29, 2016

Vedanta Ltd has informed BSE that the Baghmara Gold block in the State of Chhattisgarh (6.08 sq.km) was put on auction as composite licence (Prospecting License cum Mining Lease). The Company (Vedanta Limited) participated in the forward auction on February 26, 2016 after being technically qualified in an e-auction has been declared as the successful bidder for Gold Mines at royalty @12.55% of value of mineral despatched. The winning bidder has to submit a performance bank guarantee of Rs 1.60 crores and invest in exploration.

The block requires extensive exploration and the process will commence in due course.

Source : BSE - >www.bseindia.com

Published on February 29, 2016
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