India: JSW Steel wins Ajgaon iron ore block in Maharashtra auctions

The Maharashtra government had put up four iron ore mines for e-auction on 31 Jan'22 for grant of composite licence. The state government had selected MSTC platform for the e-auction.

In the latest update received, the name of the preferred bidder and final price offer for the block has been announced. JSW Steel Limited has placed the highest bid for the Ajgaon iron ore block at a premium of 25%, SteelMint learnt from sources.

The Ajgaon iron ore block has an area of 840 hectares (ha) with explorations done up to the G4 level. The mine has low grade iron ore reserves along with manganese (Mn), chromium (Cr) and Nickel (Ni) being the other associated elements.

The e-auction for another mine, Satarda iron ore block, was scheduled on 1 Apr'22. However, the results are yet to be announced, SteelMint learnt from sources.