India’s JSW Steel Limited has emerged as the highest bidder for the Cudnem-Cormolem iron ore block in Goa, at an auction held last Friday, government sources said on Wednesday, April 26.
JSW Steel Limited was successful in bagging the asset, out-bidding Goa-based Fomento Resources, the erstwhile lease holder of the same iron ore block.
Fomento Resources was, however, successful in bagging the Advalpale-Tivim iron ore block, also located in south Goa, having submitting the highest bid.
The Goa government will conduct auctions for seven more iron ore blocks next month, government officials said.
