Jindal Steel & Power Limited has informed the Exchange regarding a press release dated July 03, 2025, titled "Jindal Steel Receives Letter of Intent as Successful Bidder for Roida-I Iron Oreand Manganese Block in Odisha".
JINDALSTEL · price
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Jindal Steel & Power 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 in Keonjhar District, spread across 104.84 hectares. The block has an environmental clearance capacity of 3 Million Tonnes Per Annum (MTPA) and a total mineral deposit of 126.05 Million Tonnes. This follows the company's emergence as the preferred bidder in an e-auction held on June 6, 2025. The acquisition strengthens the company's raw material security and supports its backwards integration strategy for steel production in Odisha's eastern corridor.
This is a positive long-term development for shareholders as it secures a major captive source of iron ore and manganese for decades, improving cost efficiency and operational stability. It reduces dependence on third-party mineral suppliers and supports future capacity expansion plans.