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

JSW Steel Ltd. has achieved the prestigious status of being declared a "Preferred Bidder" for the Jaisinghpura North Block, following an official communication received on October 11, 2023, from the Office of the Director, Department of Mines and Geology, Government of Karnataka. This significant development stems from the auction held on August 21, 2023.

JSW Steel's triumph as the "Preferred Bidder" was sealed with the highest final offer price, which stands at an impressive 150.3% of the value of the mineral dispatched. The Jaisinghpura North Block is estimated to contain substantial Iron Ore Resources, amounting to a projected 17.66 million metric tonnes (MMT).

The company is now poised to take the necessary steps, in compliance with the tender document, to obtain the Letter of Intent and secure all required statutory clearances for the execution of the Lease Deed with Mine Development and Production Agreement (MDPA). This key milestone signifies the company's readiness to initiate mining operations and further reinforces JSW Steel's commitment to the development of the mining sector in Karnataka.

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