Companies

JSW Steel wins 3 mines in Odisha

Our Bureau: Mumbai | Updated on February 18, 2020 Published on February 18, 2020

JSW Steel has emerged as the preferred bidder for three iron ore mines with cumulative reserves of 1,091 million tonnes in Odisha.

In a statement to BSE, JSW Steel said the company was declared the preferred bidder through a communication on

February 15 from the Director of Mines, Odisha for three iron ore mines (Nuagaon iron ore mine, Narayanposhi iron and manganese ore mine, and Ganua iron ore mine) in Odisha.

The auction for these mines were held by the State government in January 31 to th February 4.

The estimated iron ore resources of the aforesaid mines are about 1091.835 million tonnes.

The company will pay a premium of 95 per cent for the Nuagaon iron ore mine, 99 per cent premium on ore mined from the Narayanposhi iron and manganese ore mine and 132 per cent premium on the Ganua iron ore mine.

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, said JSW Steel in a statement on Monday.

Published on February 18, 2020
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