Jindal Steel has received a Letter of Intent (LoI) from the Government of Odisha for a 50-year mining lease of the Roida-I Iron Ore and Manganese Block located in Keonjhar district.

The Roida-I block spans 104.84 hectares and contains mineral deposits of 126.05 million tonnes. It holds an Environmental Clearance capacity of 3 million tonnes per annum (MTPA). This resource is expected to reinforce Jindal Steel’s raw material supply chain and advance its goal of integrated and sustainable steel production in India’s mineral-rich eastern region.

Jindal Steel secured the mining lease following its success in the e-auction conducted on 6 June 2025, where it was declared the Preferred Bidder. The auction was held under the Mines and Minerals (Development and Regulation) Act, 1957, and the Mineral (Auction) Rules, 2015.

Pankaj Malhan, Executive Director at Jindal Steel’s Angul plant, described the mining lease as a crucial milestone for the company’s vision of self-reliant steel production. “With the Roida-I block, we are significantly enhancing our iron ore and manganese supply base, ensuring operational stability, cost efficiency, and supporting our growth plans,” he said.

This lease further strengthens Jindal Steel’s backward integration model, aimed at securing steady raw material supply, reducing costs, and improving production efficiency. The company is also committed to creating long-term economic value and promoting community welfare in the region.

Following the announcement on the night of 3 July, Jindal Steel and Power’s share price opened higher, gaining nearly 0.3 per cent. As of 10:40 am, the stock was trading at Rs 962.35.

Jindal Steel is a major industrial entity with strong operations across steel, mining, and infrastructure sectors, supported by a global investment of $12 billion.