JSW Steel preferred bidder for 3 iron ore mines in Odisha

JSW Steel on Monday said it has emerged as preferred bidder for three iron ore mines in Odisha with an estimated reserves of 1,092 million tonnes. These three mines are Nuagaon, Narayanposhi and Ganua, it said in a regulatory filing to the BSE.

"The Company has been declared as the 'Preferred Bidder' vide communication ... received from the Director of Mines, Odisha for three iron ore mines (Nuagaon Iron Ore Mine, Narayanposhi Iron & Manganese Ore Mine, Ganua Iron Ore Mine) in the State of Odisha, in the auctions held by the state government of Odisha," the company said.

The auctions were held between January 31 and February 4.

"The estimated iron ore resources of the aforesaid mines are around 1091.835 MT," it said.

The company said it 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.