JSW Steel Ltd. Named Preferred Bidder for Jaisinghpura North Block in Karnataka

JSW Steel Ltd. has achieved the status of a "Preferred Bidder" following a communication dated October 11, 2023, received from the Office of the Director, Department of Mines and Geology, Government of Karnataka. This distinction was earned for the Jaisinghpura North Block in an auction that took place on August 21, 2023.

The Company's highest final offer price, which secured its position as a "Preferred Bidder," amounted to 150.3% of the value of the dispatched minerals. The Jaisinghpura North Block is expected to yield Iron Ore Resources of approximately 17.66 million metric tons (MMT).

In response to this development, JSW Steel Ltd is prepared to undertake all necessary steps in accordance with the tender document to secure the Letter of Intent, obtain the requisite statutory clearances, execute the Lease Deed with the Mine Development and Production Agreement (MDPA), and subsequently commence mining operations.

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