India’s JSW Steel Limited has been declared the preferred bidder at the auction held by the Karnataka government for the Jaisinghpura North Block iron ore mine in the state, the company said in a regulatory filing on Thursday, October 12.
The block has estimated iron ore reserves of 17.66 million mt.
The company will follow the tender document's instructions to secure a letter of intent and all statutory permissions in order to complete the Lease Deed with Mine Development and Production Agreement (MDPA) and begin mining operations, the filing said.