JSW Steel emerged as the highest bidder for the Nuagaon iron ore block with a bid of 95.2 per cent as the state government started the final round of the auction of 19 working mines on Friday.
Vedanta, Adani, ArcelorMittal and Rungta Mines were the other four players in the race for the block,” said a senior government official.
Spread over an area of 767.284 hectares, Nuagaon block has an estimated reserve of around 792.93 million tonnes. The letter of intent in favour of JSW will be issued very soon.
