Loading prices...

Register/Sign in
ScrapMonster
Are ads getting in your way? Register for Ad-free pages and live data.
Get an instant offer on your damaged car
Steel News September 20, 2021 01:45:36 PM

JSPL Won Strategic Kasia Block in Iron Ore Auctions

Paul Ploumis
ScrapMonster Author
JSPL has agreed to pay a premium of 118.1% for the sale or transaction of iron ore from the block.
JSPL Won Strategic Kasia Block in Iron Ore Auctions

SEATTLE (Scrap Monster): Leading steel producer Jindal Steel and Power Limited (JSPL) announced it has won the Kasia iron ore and dolomite block in the state of Odisha in the ongoing auction process. The other bidders for the block included Tata, Essel Mining, Rungta, MSPL, ArcelorMittal and Electrosteel.

ALSO READ: JSPL's Multi-Billion Dollar Investment to Boost Capacity

According to the amended auction rules, JSPL will not have to seek fresh environmental clearance for the block. It must be noted that the block has been operated by Essel Mining until March 2020. JSPL has agreed to pay a premium of 118.1% for the sale or transaction of iron ore from the block.

The company had earlier cited that its Odisha-based steelmaking facilities are facing shortage of iron ore raw material. The winning of the block should help the company meet its increased raw material needs of the 6 million tonnes per annum (Mtpa) steelmaking plant in Angul.

Meantime, the auction bidding process is under progress for the Nadidih iron ore block, for which five companies are competing against each other.

The ongoing auction process is in connection with auctioning of 11 mineral blocks. A total of 123 bids have been received. The auction process is likely to continue until the end of the current month.

Are ads getting in your way? Register for Ad-free pages and live data.

How to Recycle

Proper Disposal of Alkaline Batteries

Proper Disposal of Alkaline Batteries

Improper disposal of alkaline batteries can result in various negative consequences. Explore our blog post to discover safe disposal methods.
Christmas Tree Recycling - Responsible Ways

Christmas Tree Recycling - Responsible Ways

Proper preparation and using a reliable Christmas tree recycling directory ensures responsible disposal and maximizes the benefits.
Stop Throwing Away LED Light Bulbs -- Do This Instead

Stop Throwing Away LED Light Bulbs -- Do This Instead

Stop throwing away LED light bulbs and dispose of them responsibly. Proper disposal ensures environmental safety and sustainability.
powered by RecyclingMonster
Are ads getting in your way? Register for Ad-free pages and live data.
×

Quick Search

Advanced Search