India’s JSW Steel Limited has been declared the preferred bidder for Pissurlem Mineral Block No. XV in Goa, following an auction held on May 7, 2026, the company said in a statement on Monday, May 11.
The block has an estimated iron ore resource of 96 million mt and the company will take the required follow-up steps as per the tender document to obtain the letter of intent and necessary statutory clearances to develop the asset, it said.
The acquisition of the raw material assets comes against the backdrop of JSW Steel Limited’s announcement of a 50:50 joint venture with South Korea’s POSCO Group to construct a 6 million mt per year capacity greenfield steel mill on Odisha, a scheduled to be operational by 2031.
The strategic move to acquire the iron ore asset is aimed at bolstering the company’s supply chain and potentially lower raw material costs for its expanding steelmaking capacity.
