Jindal Steel gets 278 mt Kasia iron ore mine in Odisha

Indian steel and energy company Jindal Steel and Power Limited (JSPL) has bagged 278 mt Kasia iron ore block in Odisha for captive use.

The Kasia iron ore mine is located about 17 km from the company's pellet plant in Barbil in Odisha, JSPL told the media.

At present, the 278 mt mine has an environmental clearance (EC) for mining 7.5 mt mineral per annum, the company said.

The company said that for the mining lease grant of the Kasia iron and dolomite mine, JSPL has received official communication from the Odisha government. For the mine at a 118.10% premium, JSPL has been declared as the preferred bidder.

It has a large resource of 278 mt of iron ore with an average iron grade of about 62.5%.

The e-auction of Kasia iron and dolomite mineral mine was held on September 18 this year, which was owned and managed by Essel Mining and Industries earlier.

Currently, the company has about 9 mt per annum crude steel capacity and intends to increase the capacity to 16 mt per annum by FY25. The company will get a massive strategic benefit through this large captive iron ore source access, said VR Sharma, Managing Director, JSPL.

He said that the company has plans to utilise a slurry pipeline from the Barbil area to Angul, which will further decrease the logistics price.

JSPL has a vital presence in the steel, power, and mining sectors, with investments worth Rs 90,000 crore globally.

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