JSW Steel emerged as the preferred bidder for three iron ore mines. The company announced that it has been declared as the preferred bidder for three iron ore mines in the auction through communication on February 15 from the Director of Mines, Odisha, held between January 31, 2020 and February 4, 2020.
JSW bagged three mines Nuagaon iron ore mine, Narayanposhi iron and manganese ore mine and Ganua iron ore mine in Odisha which has a combined estimated iron ore resource capacity of 1,091.835 million tonnes.
The company said that it will take all requisite steps as per the tender document to obtain a Letter of Intent, all statutory clearances and execute Mine Development and Production Agreement (MDPA) to start the mining operations.
JSW Steel has agreed to pay a premium of 95 percent for the Nuagaon iron ore mine, 99 percent premium on ore mined from the Narayanposhi iron and manganese ore mine and 132 percent for the Ganua iron ore mine.
