In late July 2018, the Indian government announced the upcoming mineral block auctions including 1 iron ore block in Jharkhand and seven iron ore blocks in Karnataka.
The Karnataka blocks were placed in the market recently. The top three blocks of Nidhi, Bharath, and Mysore have reportedly obtained preferred bidders. The Nidhi block is estimated to have iron ore reserves of about 10 million mt and has obtained a high bid by Minera Steel and Power. The Mysore block is estimated at iron ore reserves of 9.7 million mt and has obtained a high bid from JSW Steel. The Bharath block is estimated to have iron ore reserves of 7.6 million mt and has attracted a high bid by Kirloskar Ferrous Industries.
Karnataka is a state in southwest India with Arabian Sea coastlines.