JSW Steel Emerges as Preferred Bidder for Codli Mineral Block XII in Goa.

JSW Steel has been declared the preferred bidder for Codli Mineral Block XII in Dharbandora, Goa, the company announced on Tuesday. According to a filing with the stock exchange, JSW Steel received the official notification from the Directorate of Mines & Geology, Government of Goa, confirming its selection based on the highest final offer price, which stands at 92.6% of the value of mineral dispatched.

The mineral block holds an estimated 48.5 million tonnes of iron ore resources, along with an additional 2.7 million tonnes of ore in dumps. JSW Steel outlined plans to secure the necessary statutory clearances and obtain a Letter of Intent to execute the lease deed and begin mining operations in the region.

In a separate update, JSW Steel's Italian subsidiary, JSW Steel Italy SrL, signed a commercial agreement with Metinvest Adria S.p.A. As part of the deal, Metinvest is required to pay a release fee of €30 million to JSW Steel Italy Piombino SpA as an all-inclusive consideration for the transaction.

ET