By Our Correspondent
BHUBANESWAR: Coal India Ltd , under the Ministry of Coal, has emerged as the preferred bidder for the Gadadharpur Iron Ore Block in Odisha, marking a key step in CIL’s strategy to diversify beyond coal.
The Odisha government has declared CIL the preferred bidder for the Gadadharpur block in Kendujhar district through an auction process which began at 114.00 Percent. The block is estimated to hold iron ore resources of 288 million tonnes.
The company has agreed to pay an auction premium of 114.05 per cent of the value of minerals dispatched to the state government. The Gadadharpur block is at the G3 exploration stage, which means it requires further exploration.
Meanwhile, auction for for Karlapat Bauxite Block reached at 163.55 Percent which was started at 108.00 percent while auction going on till last reports came in.
