Jindal Steel bags another Odisha iron mine

Jindal Steel has successfully acquired another iron ore mine in Odisha, specifically the Rengalaberha North-East Extension and Nuagan West block, which is estimated to contain approximately 38 million tonnes of iron ore. The company won this mine during a state government auction held on Wednesday, offering a premium of 111.15% over the base price. The newly acquired mine features a combination of high-grade and low-grade iron ore, with around 29 million tonnes classified as high-grade fines and lumps that boast an iron (Fe) content of about 60%. This high Fe content will enable Jindal Steel to utilize the ore directly in their furnaces, facilitating the production of sinter and pellets. Overall, the mine has an average Fe content of 57.87%. This acquisition follows Jindal Steel’s recent win of the Thakurani A1 iron ore block, which has over 50 million tonnes of reserves, further consolidating the company’s position in the regional iron ore market. Jindal Steel has not issued any comments regarding this latest acquisition as of the latest updates.