Bhubaneswar: Jindal Steel Ltd (JSL) has been declared the preferred bidder for Thakurani-A1 iron ore block in Keonjhar district, following the conclusion of an online auction conducted by Odisha government.
In an exchange filing on Wednesday, the company announced that it secured the block by committing to a premium of 101.20% over the average sale price, to be paid to the state government. The Thakurani-A1 block spans 202 hectares and is a virgin mineral block explored to the G3 level, with an estimated 50 million tonnes of iron ore resources, according to government documents.
The block was part of a larger auction round involving 12 virgin mineral blocks notified by the Odisha Directorate of Mines and Geology in December 2025. Bids were received for 11 blocks by February 2026. These blocks (iron ore, bauxite, manganese, limestone, dolomite) in Sundargarh, Keonjhar, Koraput, and Nuapada, were projected to generate Rs 25,000–30,000 crore in revenue. Thakurani-A1 iron ore block saw participation from most integrated steelmakers.
This acquisition marks a significant step in Jindal Steel’s strategy to strengthen its mine-to-metal business model, which integrates captive raw material resources with steel manufacturing.
Industry sources indicate that Jindal Steel could potentially extract 1.5–2 million tonnes of iron ore annually from the block once production commences, following regulatory approvals and mine development.
Shares of Jindal Steel reacted positively to the news in early trading on Thursday.
