By Bizodisha Bureau, Bhubaneswar, February 7, 2020: JSW Steel has bagged a fourth iron ore mine in the auctions held by Odisha. JSW Steel is understood to have committed to paying 132% of its sale value to the Government of Odisha.

The company had expressed interest in acquiring more iron ore mines during the upcoming auctions in Odisha. Out of the 18 mines under auction, five are of JSW Steel’s interest.

The company has won the Jajang iron ore block through an electronic-auction (e-auction). It is said to hold an estimated 39 million tonnes (Mt) reserves. The other three include Narayanposhi, Nuagaon and Ganua. The third iron ore mine in Ganua has a capacity of 118Mt of ore.

Last month, JSW Steel reportedly secured the second iron block, Narayanposhi, in Odisha, which has the capacity to produce more than 190Mt of iron ore.

The first one, Nuagaon, has a total estimated reserve of around 790Mt.

The company is currently in the process of acquiring land in Jagatsinghpur in Odisha for a planned Greenfield project.

Meanwhile, the company has already started bidding for Odisha’s Jilling Block with a 70Mt reserve capacity.

Last year, the company has secured six category C- mines in Karnataka.

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