Vedanta says declared as preferred bidder for Bicholim mineral block in Goa

Vedanta Ltd on Friday said it has been declared as a preferred bidder for Bicholim mineral block in Goa.

The iron ore mines has resources of 84.92 million tonnes.

"The company has been declared as 'preferred bidder' in respect of e-auction of Block I - Bicholim Mineral Block based on highest final price offer of 63.55 per cent submitted by the company," Vedanta said in a filing to BSE.

Goa had earlier invited tenders to participate in electronic auction for grant of mining lease in respect of iron ore mines in the state.

The grant of mining lease by the Government of Goa in respect of aforesaid mine will be subject to making of necessary payments, completion of other terms and conditions of the tender document, obtaining of necessary approvals from various government departments and execution of necessary agreements in the matter.