Jindal Steel wins Thakuran A1 iron ore block in Odisha: ET

Jindal Steel has been designated the preferred bidder for the Thakurani A1 iron ore block in Odisha's Keonjhar district following an online auction conducted by the Odisha Directorate of Mines and Geology. The company committed a 101.20% premium to the government, surpassing the initial bid of 101.05% and securing the block, which contains approximately 50.532 million tonnes of iron ore at a >35% Fe cutoff. The auction, part of a broader round for 12 mineral blocks notified in December 2025, concluded on Tuesday, with Jindal Steel Ltd. officially declared the winner.

The Thakurani A1 block, classified as a G3-level explored area, is expected to bolster Jindal Steel's iron ore supply chain as the company expands production capacity at its Angul plant. Under the terms of the bid, the firm will have three years to develop the mine and is projected to extract 1.5–2 million tonnes annually once operations commence. This acquisition aligns with the company's strategic focus on securing raw material reserves to support its steel manufacturing ambitions. The auction process, which began at 11:00 AM and concluded at 1:08 PM, reflects Odisha's ongoing efforts to allocate mineral resources through competitive bidding.

Financial analysts note that the premium paid by Jindal Steel underscores the competitive nature of mineral block acquisitions in the region, though long-term profitability will depend on operational efficiency and market demand dynamics.