JSW Bags Third Iron Ore Mine In Odisha Auctions

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New Delhi: After the bidding, which spanned from Tuesday to Wednesday, JSW Steel bagged Ganua iron ore block in Odisha’s Sundargarh district by committing to pay 132 per cent of its sale value to the Odisha government.

It was reserved for specified end use for sponge iron, steel or pellet plants with the lease period ending on March 31. Ganua has an estimated ore reserve of 118.92 million tonnes.

JSW emerged the winner among Kamaljeet Singh Ahluwalia, Rungta Mines Ltd, Shyam Steel Industries Ltd and Amalgam Steel & Power Ltd, who were in the final race for the iron ore block.

The Mumbai-based steel company has already bagged two mines — Nuagaon and Narayanposhi — with a total reserve of 980 million tonnes.

Next on the line for auction is Jilling-Langalota iron ore block in Odisha’s Keonjhar district. Among the nine technically qualified bidders, Adani Enterprises, Serajuddin & Co, JSW Steel, Rungta’s Feegrade and ESSEL Mining Industries have emerged as the top contenders.

The block has an ore reserve of 72.84 million tonnes.

On Tuesday, Serajuddin and Co retained Balda iron ore block during the auction that went past midnight (2.41 am). ArcelorMittal India Pvt Ltd had won Thakurani iron ore block notified for auction in Odisha on Monday.

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