“Vedanta Ltd has been declared as the preferred bidder for Sijimali bauxite block… under the mineral block auction conducted by the government of Odisha,” the company said in a filing to BSE.
The mine is a strategic fit for Vedanta given its size, location, and bauxite quality, the company said, adding that the block has an estimated reserves of 311 million tonnes of bauxite.
Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is a diversified global natural resources company with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power across India, South Africa and Namibia.