JSW Steel surrenders iron ore mine lease in Odisha: Report
6th Sep 2021

JSW Steel has reportedly surrendered one of the four iron ore mines it had won through competitive bidding in Odisha last year due to commitment of high premium for poor quality ore.

The Gonua iron ore block, which is being surrendered by JSW Steel, was won with the committed premium of 130 per cent and has estimated reserves of 118 million tonnes (mt). Currently, the company mines about 0.5 mtpa.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.