JSW Steel Ltd.

JSW Steel has been declared as a ‘Preferred Bidder’ in 5 mines in the auctions for Category C mines conducted by the state government of Karnataka during the period October 01, 2016 to October 06, 2016. The estimated resources in these 5 mines as per tender documents are around 111 million tones.

The highest final offer price by the company to become a Preferred Bidder is in the range of 58.9% to 102.52% of average monthly prices of iron ore of different grades and quality published by Indian Bureau of Mines in the state of Karnataka from time to time. The company will take all requisite steps as per the tender document to obtain Letter of Intent, all statutory clearances, execute Mine Development and Production Agreement (MOPA) and start the mining operations.

JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.