JSW Steel Secures Goa Mining Rights and Strikes European Deal

JSW Steel has been chosen as the preferred bidder for Codli Mineral Block XII in Goa, with the potential of mining 48.5 million tonnes of iron ore. The company also announced a commercial agreement with Metinvest Adria, marking significant advances in both domestic and international markets.

JSW Steel has been announced as the preferred bidder for Codli Mineral Block XII in Dharbandora, Goa, as confirmed in an exchange filing. This milestone marks a significant potential gain, with projected iron ore resources of 48.5 million tonnes, plus an additional 2.7 million tonnes in ore dumps.

The company is now poised to initiate the process of obtaining the necessary Letter of Intent and statutory clearances, which are essential for executing the lease deed and initiating mining operations under the Mine Development and Production Agreement (MDPA).

In European developments, JSW Steel reported a commercial agreement with Metinvest Adria S.p.A through its Italian subsidiary. The agreement entails Metinvest paying a release fee of 30 million Euros to JSW Steel Italy Piombino SpA, marking another critical international engagement for the company.

(With inputs from agencies.)