Mumbai : JSW Steel has emerged as the preferred bidder for the Pissurlem Mineral Block No. XV in Goa, securing access to an estimated 96 million tonnes of iron ore resources in a move aimed at strengthening the company’s long-term raw material security.
The company disclosed the development in a regulatory filing submitted to the BSE and the National Stock Exchange of India (NSE) under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
According to the filing, the auction for the mining block was conducted on May 7, 2026, by the Directorate of Mines and Geology under the Government of Goa. JSW Steel said it received official confirmation declaring the company as the “Preferred Bidder” for the iron ore block.
The company secured the mining rights after submitting the highest final offer price of 118.10% of the value of mineral dispatched during the competitive bidding process.
The Pissurlem Mineral Block XV is considered a strategically valuable iron ore asset due to its sizeable estimated reserves. The addition of nearly 96 million tonnes of iron ore resources is expected to support JSW Steel’s long-term expansion plans and reduce dependence on external raw material sourcing.
Industry analysts view the acquisition as part of the company’s broader strategy to increase backward integration and improve operational efficiency in India’s highly competitive steel sector.
JSW Steel stated that the next phase will involve obtaining a Letter of Intent (LoI), followed by mandatory statutory approvals, environmental clearances, mining permits, and other regulatory permissions before production activities can begin at the site.
The company emphasized that mining operations will commence only after all legal and environmental requirements are fulfilled in accordance with Indian mining regulations.
The development comes at a time when major Indian steelmakers are aggressively pursuing captive iron ore assets to shield themselves from fluctuations in global commodity prices and ensure stable supply chains for future production growth.
Goa, historically known for its iron ore mining industry, has seen renewed interest from mining and metals companies following regulatory reforms and the resumption of auction-driven mineral allocations.
For JSW Steel, the successful bid is expected to enhance resource security, strengthen supply chain integration, and support the company’s long-term manufacturing and capacity expansion goals across India.
