The Goa government recently put up four iron ore blocks for auction. As per the latest updates received, Vedanta, erstwhile Sesa Resources Limited, has won the Bicholim iron ore mineral block in north Goa.
The company emerged as preferred bidder for Bicholim iron ore mine at a premium of 63.55%, market sources said. However, an official confirmation on it remains pending till the time of publishing this report.
The Bicholim iron ore mine is spread across an area of 478.52 hectare. The mine has reserves of 85.465 mnt of iron ore with average grade of 55.67% Fe% as per annual returns.
Moreover, Sirigao mine block is lined up for auction tomorrow. Eleven companies had placed technical bids for four iron blocks in Goa. The auctions are taking place after years of litigation, and will indicate interest in Goa’s relatively low-grade ore that is primarily been exported over the last 60 odd years.
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