JSW Steel Limited (the "Company") has been declared as the Preferred Bidder for 6 Category "C" iron ore Mines having estimated resource of around 120. 714 MMT, in the e-auctions conducted by the Government of Karnataka.

The Company has been declared as the "Preferred Bidder" for another 3 iron ore mines (Narayanpura Manganese & Iron Ore Mine, Dharmapura Iron Ore Mine & BBH Mines) in the auctions held by the Government of Karnataka in July 2019. The estimated resources of the aforesaid mines are around 92.97 MMT.

The weighted average highest final offer price by the Company to become a "Preferred Bidder" for these three mines is 78.88% of average monthly prices of iron ore of different grades and quality published by Indian Bureau of Mines in the State of Karnataka from time to time.

The Company will take all requisite steps as per the tender document to obtain Letter of Intent, all statutory clearances, execute Mine Development and Production Agreement (MOPA) and start the mining operations.