You are here: Home » Companies » News
Business Standard

JSPL declared as preferred bidder for Kasia iron ore mine by Odisha govt

Jindal Steel and Power Ltd (JSPL) said on Thursday it has received official communication from the Odisha state government for grant of mining lease of the Kasia iron and dolomite mine

Topics
JSPL | iron ore miners

ANI 

Photo: Bloomberg
Photo: Bloomberg

Jindal Steel and Power Ltd (JSPL) said on Thursday it has received official communication from the Odisha state government for grant of mining lease of the Kasia iron and dolomite mine.

The company has been declared as the preferred bidder for the mine at a premium of 118.1 per cent. The Kasia Mine has a large resource of 278 million tonnes of iron ore and consists of an average Fe grade of 62.5 per cent.

The mine has favourable lumps to the fine ratio of 20:80. It has an environmental clearance of 7.5 MTPA. The e-auction for Kasia iron and dolomite mineral block was held on September 18.

The Kasia iron ore mine was earlier owned and operated by Essel Mining and Industries Ltd.

can resume operations in a short period of time, enhancing backward integration for the company in the current financial year itself. This large and high-quality captive iron ore mine provides significant raw material security to .

The company has a current crude steel capacity of 9 MTPA and plans to expand the capacity to 16 MTPA by FY25.

"Kasia is a high Fe and low alumina mine which is located only 17 km away from our Barbil pellet plant," said Managing Director V R Sharma.

"Access to this large captive iron ore source, therefore, provides a massive strategic advantage to the company."

Sharma said the company already has plans to use a slurry pipeline from Barbil region to Angul which will further reduce the logistics cost.

"There will not be any significant capex requirement except for statutory payment as the mine was already operational," he said in a statement.

is a leading Indian Infrastructure conglomerate with a presence in steel, power and mining sectors.

With an investment of 12 billion dollars (about Rs 90,000 crore, the company is continuously scaling its capacity utilisation and efficiencies to contribute towards building a self-reliant India.

.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, September 23 2021. 11:32 IST
RECOMMENDED FOR YOU
.