Jindal Steel Secures LoI from Government of Odisha for Mining Lease in Odisha

Jindal Steel & Power Limited announced a major step forward in its expansion journey with the receipt of a Letter of Intent (LoI) from the Government of Odisha. The LoI grants a 50-year mining lease for the Roida-I Iron Ore and Manganese Block in Keonjhar District. 

Details of The Block

This block spans 104.84 hectares and holds a mineral deposit of 126.05 million tonnes, with an environmental clearance capacity of 3 million tonnes per annum. The allocation marks a crucial enhancement of Jindal Steel’s raw material security and supports its vision of integrated, sustainable steel production in India’s mineral-rich eastern region.

The company had emerged as the Preferred Bidder during the e-auction held on June 6, 2025, conducted under the provisions of the Mines and Minerals (Development and Regulation) Act, 1957, and the Mineral (Auction) Rules, 2015. The issuance of the LoI is a vital step toward ensuring a reliable supply of iron ore and manganese, both critical to the company’s long-term integrated operations.

Commitment to Growth, Self-Reliance, and Regional Development

Commenting on the development, Pankaj Malhan, Executive Director, Angul, stated, “This mining lease is a critical enabler for our long-term vision of self-reliant steel production. With the Roida-I block, we are significantly bolstering our iron ore and manganese supply base, which will ensure operational stability, cost efficiency, and support our growth plans. It is also a testament to Jindal Steel’s commitment to Odisha’s economic and industrial development through responsible and sustainable mining.”

The Roida-I block further strengthens the company's backwards integration model and emphasises its focus on sustainable mining, economic value creation, and community engagement in the region. The acquisition aligns with Jindal Steel’s broader mission of industrial leadership, operational excellence, and nation-building.

Read More: Jindal Steel, NLC India Among 27 Bidders for 11 Coal Blocks!

Jindal Steel & Power Share Performance 

As of 04 July 2025, at 10:33 AM, Jindal Steel and Power share price is trading at ₹960.40 per share, reflecting a surge of 0.41% from the previous closing price.

Conclusion

This strategic win positions Jindal Steel to reinforce its leadership in the Indian steel sector by securing essential raw materials, enhancing cost efficiency, and contributing to the regional economy of Odisha. With this lease, the company has taken a decisive step in fulfilling its long-term growth and sustainability goals.

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