JSW Steel has been declared preferred bidder for the Jajang iron-ore block in Keonjhar district of the Indian state of Odisha.
The auctions were held on Feb 6, 2020.
As per the tender document, estimated iron ore reserves at these mines are approximately 39.4mn mt.
JSW will now wait to receive a letter of intent, and then move to process statutory clearances, execute the mine development and production agreement (MDPA) and start mining operations, all by March 31, 2020, as per the tender document.
JSW Steel was also declared preferred bidder for three other iron ore mines in Odisha. These are the Nuagaon and Ganua, and Narayanposhi, which is also a manganese mine.
The combined estimated iron ore reserves at these three mines are approximately 1091.835mn mt, and the auctions were held on Jan 31, Feb 1 and Feb 4, 2020, respectively.