JSW Steel has been named the preferred bidder for the Codli Mineral Block XII in Dharbandora, Goa. The announcement came from the Directorate of Mines & Geology, Government of Goa, confirming JSW Steel's winning bid with the highest final offer price at 92.60% of the value of mineral dispatched.

The projected iron ore resources for the block stand at 48.5 million tonnes, with an additional 2.7 million tonnes in dumps. JSW Steel plans to move forward with obtaining the Letter of Intent (LoI) and the necessary statutory clearances to sign the Mine Development and Production Agreement (MDPA) and initiate mining operations.

In a separate development, JSW Steel's Italian subsidiary, JSW Steel Italy Srl, signed a commercial agreement with Metinvest Adria S.p.A. for a transaction that includes a release fee of Euro 30 million.