JSW Steel has been declared as the preferred bidder for Codli Mineral Block XII at Dharbandora in Goa.

The company has received a communication from the Office of the Director, Directorate of Mines & Geology, Government of Goa, JSW Steel said in an exchange filing.

“The company is declared as ‘Preferred Bidder’ with highest final offer price at 92.60 percent of the value of mineral dispatched, it said.

The projected iron ore resources are 48.5 million tonnes in addition to 2.7 million tonnes of ore in dumps, JSW Steel said.

The company will take all requisite steps to obtain a Letter of Intent and statutory clearances to execute the lease deed with the Mine Development and Production Agreement (MDPA) and start the mining operations.