Published On:February 25 2020
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JSW Steel Ltd. declared preferred bidder for Jajang Iron Ore block in Odisha.

JSW Steel Ltd. has been declared as a "Preferred Bidder" vide communication dated February 22, 2020 received from the Director of Mines, Odisha for an Iron Ore mine (Jajang Iron Ore Block of Keonjhar District) in the State of Odisha, in the Auctions held by the State Govt. of Odisha on 6 th February 2020. The projected iron ore resource as on 31.03.2020 in this mine as per tender documents is around 39.40 Million tonnes.

The highest final offer price by the Company to become a "Preferred Bidder" is 110% of average monthly prices of iron ore of different grades and quality published by Indian Bureau of Mines in the State of Odisha from time to time.

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 (MDPA) and start the mining operations.

EQUITYBULLS





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