JSW Steel Limited declared the Preferred Bidder for Pissurlem Mineral Block No. XV in Goa by the Directorate of Mines and Geology, Government of Goa.
The declaration, communicated on May 7, 2026, following an auction held the same day, represents a significant raw material security win for India's largest steel producer.
The Directorate of Mines and Geology, Government of Goa, declared JSW Steel Limited as the Preferred Bidder for Pissurlem Mineral Block No. XV through a communication dated May 7, 2026.
The auction was conducted on the same date. JSW Steel emerged victorious with the highest final offer price at 118.10% of the "Value of mineral dispatched," a metric used in Indian iron ore block auctions to determine the revenue share offered to the state government.
The company will now initiate all requisite steps as per the tender document to obtain the Letter of Intent and the necessary statutory clearances before formal mining rights are granted.
The Pissurlem Mineral Block No. XV holds projected iron ore resources of 96 million tonnes, a substantial reserve that can serve as a long-term captive source of raw material for JSW Steel's operations.
Access to captive iron ore is a key strategic lever for any integrated steel producer, as it reduces dependence on third-party suppliers and open-market procurement, directly improving cost competitiveness and margin stability.
For JSW Steel, which operates some of the largest steel plants in India, securing additional ore reserves reinforces its self-sufficiency roadmap.
As of 11 May 2026, at 9:16 AM, JSW Steel share price is trading at ₹1,273.80 per share, reflecting a decline of 0.44% from the previous closing price.
JSW Steel's preferred bidder status for the Pissurlem iron ore block in Goa is a strategically valuable development that enhances the company's captive raw material pipeline. With 96 million tonnes of projected resources and a commanding auction bid at 118.10% of mineral value, the win reflects JSW Steel's continued focus on securing long-term ore supply security, a critical input for sustaining cost efficiencies and supporting its ongoing capacity expansion ambitions.
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Published on: May 11, 2026, 10:09 AM IST
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