JSW wins 3rd Iron Ore block in Odisha, Could get more blocks

Shyam Ore wins Jilling Iron block currently held by Aditya Birla Group’s Essel Mining

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Bhubaneswar: Continuing its aggressive bidding in the Odisha mining auction, steel major JSW has bagged its third Iron Ore. The company on Wednesday won the Gonua Iron Ore mines in Odisha after committing to pay 132% premium of the sale price of Iron Ore. With another 12 mining blocks remaining, JSW is likely to secure atleast 2 more mines.

The mining block located in Sundergarh district has proven reserves of 118.91 million tonnes. The block is currently held by KJS Ahluwalia.

On the other hand, Shayam Ore of Jharkhand has bagged the Jilling-Langlata Iron Ore mines by committing to pay 135% premium on the sale price of Iron Ore. The block is currently held by Aditya Birla group’s Essel mining.

Earlier, the Sajjan Jindal company has bagged Nuagaon and Narayanpashi Iron Ore blocks with total estimated reserves of 980 million tonnes ( Nuagaon has 790 million tonnes and Narayanposhi has 190 million tonnes respectively). Along with the Ganua mines, JSW has now iron ore reserves of about 1100 million tonnes.

The government of Odisha has already auctioned 6 Iron Ore mines and will auction another 12 blocks by 18th of February. Of the 6 mines, JSW has won 3 mines, Arcelor Mittal, Sirajuddin & co and Shyam Ore have own one each.

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