Bhubaneswar: Indian private sector steel giant JSW Steel is emerging as a major player in Odisha mining sector with bagging prized Jajanga iron ore mines, fourth one in the first round of auctions, in the State.
JSW Steel has won the bidding for Jajanga mines in Keonjhar district by offering 110% premium. The bidding documents were opened on Thursdays. There were total 13 bidders for the mines. Besides Arcelor Mittal, Adani Enterprises, Jindal Steel & Power Ltd., Vedanta, Sirajuddhin & Co., and Rungta Mines, the bidding for Jajanga mines had attracted Shyam Mining Industries, Ramgarh Minerals & Mining Ltd., Lal Traders & Agencies, Sosodia Industrial, and Eastern Range Coal Mining Pvt. Ltd.
Out of the 13 bidders , 7 were shortlisted for final round of negotiations. While Sirajuddhin had offered the highest 81.65%, it was followed by Lal Traders 71.6%, Rungta Mines 66.15%, Eastern Mining 65.17%, Jindal Steel 63%, Adani 60.45% and JSW 60.30%.
JSW Steel, however, made an aggressive bidding in the final round and bagged the mines by raising the offer to 110%.
Spreading over an area of 666.150 hectares, Jajnga mines promises a iron ore reserve of 58.51 million tonnes. Out of the 595.171 hectares already developed, minerals are deposited in 185.690 hectares. The mines has statutory clearances for raising 16.5 million tonnes. In 2019-20, about 11.71 million tonnes ore had been exploited.
The Odisha government has initiated the process of auctioning 19 mines in the first round from January 31,2020. Till now 7 mines have been offered to successful bidders. Out of this 7, JSW Steel has already bagged Nuagoan, Narayanposhi, Ganua and Jajanga iron ore mines in Keonjhar district of the State. While Arcelor Mittal has bagged the Thakurani iron ore mines at 107.55%, Shyam Ores has cornered Jiling-Langalota iron ore mines.
Sirajuddhin & Co has retained its Balda iron ore mines by offering 118.05%. Sirajuddhin had submitted IPO at highest 96.75% followed by Arcelor Mittal 78%, JSW 75.30%, Adani 70.80%, Rungta Mines 66% and Amalgam Steel & Power 62.30%.
Balda, one of the oldest mines spreads over an area of 335 hectares. The mines promises 210.17 million tonnes of high grade iron ore. The mines produces 15.15 million tonnes ore per annum.