Jindal Steel Wins Odisha Iron Ore Block with 111.15% Premium Bid

Jindal Steel has been officially declared as the preferred bidder for the Rengalaberha North-East Extension and Nuagan West Iron Ore Block in Odisha's Keonjhar district. The company secured this strategic acquisition by committing to a final price offer of 111.15 per cent premium to the Government of Odisha following a successful online auction concluded in March 2026.

Block Specifications and Resource Details

The iron ore block represents a significant addition to Jindal Steel's mining portfolio, spanning approximately 84 hectares in the mineral-rich Keonjhar district. According to government records, the block has been explored up to the G2 level and contains substantial mineral wealth for the company's steel manufacturing operations.

Parameter:	Details
Block Name:	Rengalaberha North-East Extension and Nuagan West
Location:	Keonjhar District, Odisha
Area:	84 hectares
Premium Offered:	111.15%
Estimated Resources:	38 million tonnes
Exploration Level:	G2

Strategic Auction Process

The block was part of a comprehensive tranche of 12 mineral blocks notified for auction by the Directorate of Mines and Geology, Odisha, in December 2025. This competitive bidding process attracted significant interest from major steel producers, highlighting the strategic value of Odisha's iron ore resources. Jindal Steel's successful bid demonstrates the company's commitment to securing long-term raw material supplies.

Operational Impact and Integration

The acquisition of this iron ore block will significantly enhance Jindal Steel's vertical integration strategy and raw material security framework. With estimated iron ore resources of approximately 38 million tonnes, this block will provide substantial support to the company's steel manufacturing operations across its facilities in Angul, Raigarh, and Patratu. The mine-to-metal model approach will be further strengthened through this strategic addition to the company's captive resource base.

Company's Mining Expansion Strategy

This development aligns with Jindal Steel's broader expansion strategy as one of India's foremost integrated steel producers. Operating with an investment footprint exceeding USD 12 billion, the company continues to leverage captive resources and advanced manufacturing capabilities. The successful acquisition reinforces the company's position in securing essential raw materials required for its diversified product portfolio that serves infrastructure, construction, and manufacturing sectors.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.62%	-6.19%	-10.54%	+8.12%	+21.51%	+230.84%

Jindal Steel has officially announced its selection as the preferred bidder for the Thakurani-A1 iron ore block in Odisha, following the conclusion of an online auction conducted by the Government of Odisha. The company secured this strategic asset by committing to pay a premium of 101.20% to the government, marking a significant milestone in its raw material acquisition strategy.

Official Announcement and Regulatory Filing

The company made the announcement through a press release and regulatory filing under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to both BSE Limited and National Stock Exchange of India Limited, confirming the company's preferred bidder status for this virgin mineral block.

Block Details and Strategic Value

The Thakurani-A1 iron ore block represents a valuable addition to Jindal Steel's resource portfolio. The following table outlines the key specifications:

Parameter:	Details
Block Area:	202 hectares
Location:	Keonjhar, Odisha
Premium Committed:	101.20%
Resource Estimate:	50 million tonnes
Exploration Level:	G3-level explored

Auction Process and Competition

The Thakurani-A1 block was part of a competitive auction round for 12 virgin mineral blocks notified by the Odisha Directorate of Mines and Geology in December 2025. As a G3-level explored virgin block, it contains approximately 50 million tonnes of iron ore resources according to government documentation, providing substantial reserves for the company's steel manufacturing operations.

Strategic Impact on Operations

This acquisition reinforces Jindal Steel's mine-to-metal integrated business model and strengthens its position in India's eastern region. Located in Keonjhar, Odisha, the block will enhance the company's raw material supply chain security and support its state-of-the-art facilities in Angul, Raigarh, and Patratu. The addition of this iron ore block aligns with the company's strategy of leveraging captive resources to maintain operational efficiency and cost competitiveness in steel production.