Bhubaneswar: Naveen Jindal-LED Jindal Steel and Limited (JSPL), one of the largest steel producers in this country, has pocketed iron ore of Kasia and dolomite blocks in the ongoing auction process, which began on Saturday.
Seven top mining and metal plater includes JSPL, Esseling Mining, Tata, Rungra, MSPL, ArcelorMittal and Electrosteel are competing for iron ore blocks.
Sources say JSPL won the block by committing to pay a premium of 118.1%, which means they have to issue Rs 118 to the state government for the sale / transaction of each RS 100 iron ore from the block.
Reserves, spread over 194.19 hectares, operated by essel mining from Aditya Birla Group until March 2020.
With a recent amendment in the rules of mining auction, successful bidder (JSPL in this case) may not need to look for fresh environmental permissions for block.
The iron ore block will meet the needs of raw materials from JSPL 6MTPA steel mills in Angul.
JSPL Kasia Block bag, will pay Odisha Govt 118 for every 100 iron ore sales
