JSW Steel Ltd declared preferred bidder for unexplored Iron Ore mine in Gadchiroli District

JSW Steel Ltd has been declared as a "Preferred Bidder" vide communication dated May 15, 2023 received from the Directorate of Geology and Mining, Maharashtra on May 16, 2023, for Composite Licence of an unexplored Iron Ore mine (Surjagad 4 Iron Ore Block in Gadchiroli District) in the State of Maharashtra, in the Auctions held by the State Govt. of Maharashtra on May 12, 2023.

The highest final offer price by the Company to become a "Preferred Bidder" is 131.05% of average monthly prices of iron ore of different grades and quality published by Indian Bureau of Mines in the State of Maharashtra from time to time.

The Company will take all requisite steps as per the tender document to obtain Letter of Intent, all statutory clearances to execute the Lease Deed with Mine Development and Production Agreement (MDPA) and start the mining operations.

Shares of JSW Steel Limited was last trading in BSE at Rs. 695.50 as compared to the previous close of Rs. 702.35. The total number of shares traded during the day was 35533 in over 1692 trades.

The stock hit an intraday high of Rs. 702.00 and intraday low of 691.90. The net turnover during the day was Rs. 24751233.00.

Source : Equity Bulls

Keywords

JSWSteel INE019A01038 PreferredBidder IronOreMine