Koraput: Adani Enterprises has received a Letter of Intent (LoI) for Ballada Bauxite Block in Odisha, the company said in an exchange filing.
Mundra Aluminium Limited (MAL) – which is a wholly-owned subsidiary of Adani Enterprises — was declared the preferred bidder by the Odisha government for Ballada Bauxite Block, the exchange filing stated.
MAL along with other bidders participated in recent auction proceedings invited by the Government of Odisha.
According to the results of the auction proceedings, MAL was named the “Preferred Bidder,” and the government of Odisha issued a Letter of Intent (LoI) dated March 1, 2023, in relation to the mineral block in the state.
Notably, MAL deals with mining, refining, smelting, production, development, and operations of alumina, aluminium, and bauxite.
The Ballada block in the Koraput district of Odisha reportedly has a probable reserve of 11.5 million tonnes of bauxite, according to government records. Six mineral blocks were put up for auction by the mines ministry last year. The three bauxite blocks—Ballada, Kutrumali, and Sijimali—are virgin, according to government records. The government of Odisha had issued tenders for mining leases at three bauxite mineral blocks and two limestone mineral blocks in November.
PNN