In a regulatory filing made on Saturday (June 10), the company stated that the Government of Goa, in January 2023, had invited tenders to participate in electronic auction for grant of mining lease in respect of iron ore mines in the State of Goa. Vedanta had submitted its bid in electronic auction for grant of mining lease.

As per the notice dated 9 June 2023, issued by the Directorate of Mines & Geology, Government of Goa, the company has been declared as 'preferred bidder' in respect of electronic auction of Block VII - Cudnem Mineral Block based on highest final price offer of 93.15% submitted by the company.

Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading oil & gas and metal company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia.

The company reported 67.56% decline in consolidated net profit of Rs 1,881 crore on 5.38% fall in revenue from operations to Rs 37,225 crore in Q4 FY23 over Q4 FY22.

The scrip rose 0.40% to currently trade at Rs 277.90 on the BSE.