FCC

JSW Steel bags third iron ore mine in Odisha

2020-02-07

According to reports, JSW Steel secured its third iron ore mine Ganua at a 132 per cent premium on the sale value with a reserve of 118 million tonnes in the Odisha e-auction. The other two iron ore mines it has bagged in Odisha are Nuagaon and Narayanposhi.

The company already owns six iron ore mines in Karnataka, with a combined capacity of eight million tonnes per annum. These mines would cater to 35 per cent of JSW?s raw material (iron ore) needs. Five of the six iron ore mines are in operation now.

The Nuagaon mine was the largest among those on the block in Odisha, with reserves of 790 million tonnes, higher than the combined reserves of all other mines on offer. The Narayanposhi block has reserves of 190 million tonnes.