The Business Bytes
TBB BUREAU
BHUBANESWAR, NOV 16, 2023
Sajjan Jindal-led JSW Steel has decided not to surrender its iron ore mines in Jajang in Keonjhar district of Odisha. The steel major on Thursday said that it has withdrawn the application to surrender the Jajang mine.
In September 2023, JSW Steel had submitted an application to surrender the mining lease of the Jajang iron ore mine, which the company had acquired through auction in 2020.
“The company upon considering demand and supply scenario of iron ore in India, has today withdrawn its application for the Final Mine Closure Plan submitted on 1st September 2023 before the Indian Bureau of Mines for the purpose of surrender of Jajang Iron Ore Block located in the district of Keonjhar, Odisha,” the company said in a filing to the BSE.
“Due to un-economic operation, the company had submitted a notice for surrender of mining lease on 1.9.2023 in respect of one mine, namely Jajang Iron Ore Block… out of the 4 iron ore mining leases it has in Odisha, which were acquired through auction in 2020,” the company said.
The Jajang iron ore mines block holds an estimated reserve of 39 million tonnes.
