Been declared as “preferred bidder” for iron ore mine in Goa: Vedanta Ltd

Vedanta Ltd. said on Saturday that it had announced the “preferred bidder” for the iron ore mine in Goa.

The Goa government has invited bids to participate in an online auction to award a mining lease in connection with the state’s iron ore mines, the company said in a regulatory statement.

The company said it had submitted its bid for a mining lease.

“In accordance with the notification dated 9 June 2023, issued by the Directorate of Mines and Geology, Government of Goa, the Company has been declared as the ‘preferred bidder’ in respect of the online auction of Block VII – Cudnem mineral based on the final highest bid value of 93.15 per cent.”

Vedanta Ltd said the lease of the grant by the Government of Goa will be subject to making the necessary payments, and completion of other terms and conditions of the bid document.

Iron ore is a major raw material used in the manufacture of steel.

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First published: June 10, 2023 | 10:18 p.m ist