Latest news with #JanthakalIronOreMine
Time of India
23-07-2025
- Business
- Time of India
Vedanta declared as 'preferred bidder' for iron ore mining in Karnataka
Vedanta Ltd . has been declared as ' Preferred bidder ' for the Janthakal Iron Ore Mine by the Government of Karnataka. The government issued the 'Declaration of Preferred Bidder' notification on July 22, 2025. On October 30, 2024, the Department of Mines & Geology, Government of Karnataka invited tenders to participate in the auction process for grant of Mining License in respect of Janthakal Iron Ore Mine in the State of Karnataka. The company qualified at the initial bidding stage, followed by its participation in live E-auction for grant of the stated Mining License. The mine is at G3 or preliminary level of exploration with total area of 71.16 hectares for the block. "The grant of mining licence by the Government of Karnataka in respect of aforesaid mine shall be subject to making of necessary payment of performance bank guarantee, completion of other terms and conditions of the tender document, obtaining of necessary approvals/permissions/clearances from various government departments/agencies and execution of necessary agreements/deeds in the matter," Vedanta said. Shares of Vedanta Ltd. were trading at Rs. 455 a piece at 15:31 PM on BSE after an intraday hike of 0.99%. Vedanta Ltd. is a subsidiary of Vedanta Resources Ltd.
Business Upturn
23-07-2025
- Business
- Business Upturn
Vedanta declared preferred bidder for Janthakal iron ore mine in Karnataka
By Aditya Bhagchandani Published on July 23, 2025, 15:22 IST Vedanta Limited has been declared the preferred bidder for the Janthakal Iron Ore Mine in Karnataka, as per a notification received on July 22, 2025. The company informed stock exchanges today under Regulation 30 of SEBI (LODR) regulations. The Department of Mines & Geology, Government of Karnataka, had invited tenders through its Notice Inviting Tender dated October 3, 2024, to auction the mining license for the Janthakal Iron Ore block. After qualifying at the initial bid stage, Vedanta participated in the live e-auction process and emerged as the highest bidder. The Janthakal Iron Ore Mine, located in Karnataka, spans an area of 71.16 hectares and is classified as a G3-level exploration block. Vedanta clarified that the final grant of the mining license is subject to the company meeting the conditions outlined in the tender document. This includes submission of the performance bank guarantee, securing necessary approvals and clearances from government authorities, and executing required agreements. The company stated it remains committed to fulfilling all formalities to move toward operationalizing the block. For the record, the declaration of Vedanta as preferred bidder marks another step in the company's strategy to strengthen its iron ore resource base in India. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
