New Delhi, Aug. 7 -- State-owned Coal India Limited (CIL) has emerged as the preferred bidder for the Gadadharpur Iron Ore Block in Odisha's Kendujhar district, as the country's largest coal producer looks to expand its presence beyond its core coal mining business.

In a regulatory filing, Coal India said the Odisha government has declared it the preferred bidder for the iron ore block.

The Gadadharpur Iron Ore Block is currently at the G3 exploration stage and has total estimated resources of 288 million tonnes (MT), according to the filing.

Coal India said the mining lease has been awarded through an auction, with an auction premium of 114.05 per cent of the value of the mineral dispatched to be paid to the Odisha government.

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