Vedanta Limited declared bidder for iron ore mine Block I - Bicholim Mineral block

Government of Goa vide its 'Notice Inviting Tender' dated September 30, 2022, had invited tendersto participate in electronic auction for grant of Mining Lease in respect of iron ore mines in the State of Goa. The Company had submitted its bid in electronic auction for grant of Mining Lease.

As per the notice dated 22nd December, 2022 issued by the Directorate of Mines & Geology, Government of Goa, the Company has been declared as 'Preferred Bidder' in respect of e- auction of Block I - Bicholim Mineral Block based on highest Final Price Offer of 63.55% submitted by the Company. As per the tender document, Block I - Bicholim Mineral Block has Resources of 84.92 million ton. The grant of Mining Lease by the Government of Goa in respect of aforesaid mine shall be subject to making of necessary payments, completion of other terms and conditions of the Tender Document, obtaining of necessary approvals / permissions / clearances from various Government Departments / Agencies and execution of necessary agreements / deeds in the matter.

Shares of Vedanta Limited was last trading in BSE at Rs. 302.00 as compared to the previous close of Rs. 303.25. The total number of shares traded during the day was 1410161 in over 24438 trades.

The stock hit an intraday high of Rs. 307.45 and intraday low of 298.10. The net turnover during the day was Rs. 426138554.00.

Source : Equity Bulls

Keywords

Vedanta INE205A01025 VEDL PreferredBidder eAuction Block1 BicholimMineralBlock