JSW Steel Limited has been declared the “Preferred Bidder” for the Pissurlem Mineral Block No. XV in the State of Goa. Following an auction held on May 7, 2026, the company secured the bid with a final offer of 118.10% of the “Value of mineral dispatched.” This project encompasses estimated iron ore resources totaling 96 million tonnes, marking a significant addition to the company’s mineral resource portfolio.
Auction Success and Financial Commitment
In a competitive auction process held on May 7, 2026, JSW Steel emerged as the successful party for the Pissurlem Mineral Block No. XV. The company committed to a premium payment of 118.10% of the value of mineral dispatched, reflecting its strategic focus on securing high-quality raw material assets to bolster its production capabilities.
Resource Potential and Next Steps
The Pissurlem block is estimated to hold 96 million tonnes of iron ore, offering substantial long-term supply potential for the company’s steelmaking operations. Following this declaration, JSW Steel has confirmed it will initiate all mandatory procedures as outlined in the tender documents. The company is now working toward obtaining the official Letter of Intent and securing the necessary statutory clearances required to commence mining operations in the region.
Source: BSE
