BHubaneswar: Naveen Jindal-LED Jindal Steel and Power Limited (JSPL), one of the largest steel producers in the country, has pocketed iron ore of Kasia and dolomite blocks in the ongoing auction process in Odisha.
As many as seven top mining and metal plates, including JSPL, Esselu Mining, Tata, Rungra, MSPL, ArcelorMittal and Electrosteel are in the race for mining blocks.
Sources say JSPL has pocketed a block by committing to pay a premium of 118.1%, which means that JSPL must pay Rs 118 to the state government for sale / transactions of each RS 100 iron ore from the block.
Reserves, spread over 194.19 hectares, have been 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 matter) may not need to find a fresh environment.
permission for work blocks.
The iron ore block will be a big boost to meet the needs of raw materials from the JSPL 6MPA steel factory in Angul.
The previous company marked the problem of lack of iron ore for Odisha-based plants and an increase in iron ore prices, which were rejected by the state government.
Meanwhile, financial offers occur for the Nadidih Iron Ore (Bico) block where five companies are in a race.
On Monday, the state government will conduct financial offers for Iron Ore Nadidih and Manganese Block (FeeGrade).
During the ongoing auction process, the state government has planned to auction 11 mineral blocks totaling 123 bids have been received.
The auction process will continue until September 29, the official source said.