Leading manufacturer of pig iron and grey iron castings, Kirloskar Ferrous Industries Ltd, on Tuesday (July 22), said it has been declared the preferred bidder for the Jambunatha iron ore mine in Karnataka following an electronic auction conducted on January 27, 2025.The announcement was made through a letter dated July 22, 2025, issued by the Office of the Director, Department of Mines and Geology, Government of Karnataka.
The auction was initiated under the Government of Karnataka’s Notification and Notice Inviting Tender dated October 3, 2024. Kirloskar Ferrous had submitted its bid as part of the electronic auction process and emerged as the highest bidder for the mining lease.
Also Read: Kirloskar Ferrous takes control of ISMT; plans to reduce debt by Rs 300 crThe final grant of the mining lease is subject to fulfilling multiple conditions, including making necessary payments, meeting terms outlined in the tender document, and securing all requisite approvals, permissions, and clearances from various government departments and agencies. The company must also execute relevant agreements and deeds in relation to the mining lease.
The auction was initiated under the Government of Karnataka’s Notification and Notice Inviting Tender dated October 3, 2024. Kirloskar Ferrous had submitted its bid as part of the electronic auction process and emerged as the highest bidder for the mining lease.
Also Read: Kirloskar Ferrous takes control of ISMT; plans to reduce debt by Rs 300 crThe final grant of the mining lease is subject to fulfilling multiple conditions, including making necessary payments, meeting terms outlined in the tender document, and securing all requisite approvals, permissions, and clearances from various government departments and agencies. The company must also execute relevant agreements and deeds in relation to the mining lease.
Shares of Kirloskar Ferrous Industries Ltd ended at ₹577.75, down by ₹1.25, or 0.22%, on the BSE.
Also Read: Kirloskar Ferrous expects significant boost in volume growth in casting & pig iron businesses
