Jindal Steel Limited has been declared the preferred bidder for the Rengalaberha North-East Extension and Nuagan West iron ore blocks in Keonjhar district, Odisha, following an online auction conducted by the state government.
The two blocks together cover around 84 hectares and are estimated to contain about 38 mln tons of iron ore.
Jindal Steel secured the blocks by offering a 111.15pct premium to the Government of Odisha. Both iron ore blocks have been explored up to the G2 level, indicating a relatively high level of mineral resource confidence.
The acquisition is expected to strengthen Jindal Steel’s captive mining resources and support its mine-to-metal production model, ensuring a stable supply of iron ore to its integrated steel operations.
Jindal Steel Ltd. is a major Indian steel, mining, and infrastructure company operating integrated plants in Angul, Raigarh, and Patratu, producing a broad range of products including sponge iron, rebars, wire rod, plates, HRC, beams, sections, and rails, including head-hardened rails.
