BHUBANESWAR: The Naveen Jindal-led Jindal Steel and Power Limited (JSPL), one of the largest steel producers in the country, has bagged the state’s Kasia iron ore and dolomite block in the ongoing auction process, which started on Saturday.
Seven top mining and metal platers including the JSPL, Essel Mining, Tata, Rungta, MSPL, ArcelorMittal and Electrosteel were in the race for the iron ore block. Sources said the JSPL won the block by committing to pay a premium of 118.1%, which means that it will have to shell out Rs 118 to the state government for the sale/transaction of every Rs 100 of iron ore from the block.
The reserve, spread over 194.19 hectares, was operated by Essel Mining of Aditya Birla group until March 2020. With the recent amendment in the mining auction rules, the successful bidder (JSPL in this case) may not have to seek fresh environment clearance for the block. The iron ore block will cater to the raw material needs of the JSPL’s 6MTPA steel plant in Angul.
