Jindal Steel has been named the preferred bidder for the Rengalaberha North-East Extension and Nuagan West iron ore block located in Odisha’s Keonjhar district. The development follows an online auction conducted by the Government of Odisha.
The block forms part of a set of mineral assets offered for auction in late 2025, with the company submitting a premium bid for the resource.
Jindal Steel announced that it has been declared the preferred bidder for the Rengalaberha North-East Extension and Nuagan West iron ore block in Odisha.
The announcement follows the completion of an online auction process conducted by the state government.
The block is situated in the Keonjhar district, an area known for its iron ore deposits and mining activity.
The iron ore block was part of a tranche of 12 mineral blocks that were notified for auction by the Directorate of Mines and Geology, Odisha, in December 2025. The auction process is conducted through an online platform where companies submit competitive bids.
Jindal Steel placed a final price offer representing a 111.15% premium to the Government of Odisha.
According to government records, the iron ore block covers approximately 84 hectares. The deposit has been explored up to the G2 level, which indicates a detailed stage of geological exploration.
The block is estimated to contain around 38 million tonnes of iron ore resources, providing potential raw material supply for steel production.
Securing iron ore resources through auctions is part of a broader strategy among steel producers to ensure long-term access to raw materials. Captive mining assets can help companies support their steel manufacturing operations and manage supply requirements more effectively.
For integrated steel producers, such resources are often linked to their mine-to-metal production approach.
Jindal Steel Limited is an integrated steel producer operating a mine-to-metal business model. The company runs manufacturing facilities in Angul, Raigarh, and Patratu, and has operations in India and Africa.
Its product portfolio serves sectors such as infrastructure, construction, and manufacturing, with steel products used in a range of industrial applications.
Shares of Jindal Steel were trading at ₹1,182.90 on the National Stock Exchange as of 12 March 2026 at around 03:25 PM, reflecting a decline of ₹4.10 (0.35%) compared with the previous close of ₹1,187.00.
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The declaration of Jindal Steel as the preferred bidder for the Rengalaberha North-East Extension and Nuagan West iron ore block marks a step in the ongoing auction of mineral resources in Odisha.
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Published on: Mar 12, 2026, 3:32 PM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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