JINDAL STEEL LIMITED has informed the Exchange regarding a press release dated March 11, 2026, titled "Jindal Steel Declared Preferred Bidder for Thakurani-A1 Iron Ore Block in Odisha".
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Jindal Steel has been declared the preferred bidder by the Government of Odisha for the Thakurani-A1 Iron Ore Block, spread across 202 hectares in Keonjhar district. The company committed to pay a 101.20% premium over the base price after an online auction conducted by the Odisha Directorate of Mines and Geology. The block is a virgin (G3-level explored) mineral asset containing approximately 50 million tonnes of iron ore resources. This was part of a December 2025 auction round covering 12 virgin mineral blocks. The win strengthens Jindal Steel's captive raw material base, which is central to its mine-to-metal integrated steel production model.
This is a positive development for shareholders as it boosts Jindal Steel's long-term raw material security and could reduce dependence on third-party iron ore purchases, supporting margins over time. The 101.20% premium is notable but reflects competitive bidding, and investors should watch for further updates on reserve estimates, production timelines, and actual costs.