Jindal Steel Secures New Iron Ore Mine in Odisha

• Jindal Steel wins Odisha iron ore block with 38 million tonnes reserves

• Company offered 111.15% premium over the base price in state auction

• Majority of ore contains high-grade iron with around 60% Fe content

Jindal Steel has secured another iron ore mine in Odisha, further strengthening its access to key raw materials required for steel production. The company won the Rengalaberha North-East Extension and Nuagan West iron ore block through a state government auction, offering a premium of 111.15% over the base price, according to people familiar with the development.

The newly acquired block is estimated to hold around 38 million tonnes of iron ore reserves, making it a significant addition to the company’s resource portfolio.

Industry sources indicate that a large portion of the mine contains high-grade iron ore, which is particularly valuable for steel production. Out of the total reserves, nearly 29 million tonnes consist of high-grade fines and lumps with iron (Fe) content close to 60%.

Because of its strong iron concentration, the ore can be directly used in blast furnaces or processed for sinter and pellet production, improving efficiency in steel manufacturing. Even when lower-grade ore is included, the mine maintains an average Fe content of about 57.87%, making it commercially viable.

The development comes shortly after Jindal Steel secured another major mining asset in the state. The company recently confirmed in an exchange filing that it had won the Thakurani A1 iron ore block in Odisha’s Keonjhar district, which holds over 50 million tonnes of reserves.

Winning two iron ore blocks in quick succession highlights the company’s strategy of strengthening backward integration by ensuring long-term access to critical raw materials.

For steelmakers, securing captive iron ore mines is crucial as it reduces dependence on external suppliers and helps stabilise production costs. With rising demand for steel in infrastructure, construction, and manufacturing sectors, access to reliable ore supplies is becoming increasingly important.

The latest auction victory is expected to support Jindal Steel’s long-term production plans while reinforcing Odisha’s position as one of India’s key iron ore hubs.

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