India’s JSW bags fourth iron ore mine in Odisha

Tuesday, 25 February 2020 12:16:21 (GMT+3)   |   Kolkata

India’s private steel producer JSW Limited has been awarded the Jajang iron ore mine in the eastern state of Odisha, according to a regulatory filing by the company.

“The company has been declared as a preferred bidder vide communication dated February 22, 2020 received from the Director of Mines, Odisha, for the Jajang iron ore block in the auction held by the government on February 6, 2020,” JSW said in a regulatory stock exchange filing.

The projected iron ore reserves of this mine as per the tender document are around 39.40 million mt, the company said in the filing.

The company will take all requisite steps as per the tender document to obtain the letter of intent and will also take statutory clearances, execute a mine development and production agreement, and start mining operations, the company said.

With this mine, JSW has bagged four iron ore mines in Odisha, having earlier secured the iron ore mines of Narayanposhi, Ganua and Nuagaon, after putting in winning bids at previous auctions. As a result, iron ore resources from all four mines exceed 1 billion mt. JSW has plans to increase steelmaking capacity by the expansion of its Dolvi plant by 5 million mt and by the expansion of its Vijayanagar plant by 1 million mt, while it also has a greenfield project of 12 million mt of steel per year, which is waiting for approvals. 

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