Core Announcement – Order Details
Awarding Entity: Government of Odisha
Domestic/International Order: Domestic order for Gadadharpur Iron Ore Block located in Kendujhar district of Odisha.
Nature of Order/Contract:
Mining Lease obtained through auction process. Coal India Limited has been declared the Preferred Bidder for the block.
Order Value:
The broad consideration is based on a premium of 114.05% of the value of mineral dispatched to be paid to the Government of Odisha. The block is at G3 exploration stage with total resources of 288 MT.
Materiality Context:
Not Specified
Execution Timeline:
The company has 1 year to become the successful bidder and 3 years for execution of the mining lease deed.
Revenue Recognition / Billing Structure:
Not Specified
Key Terms & Payment Milestones:
The significant term disclosed is the payment of a 114.05% auction premium on the value of mineral dispatched to the Government of Odisha.
Whether Related Party Transaction:
No
Promoter Group Involvement:
No
Financial Implication:
Not Specified