Home Mining JSPL Bags Kasia Mine

JSPL Bags Kasia Mine

The Naveen Jindal-led Jindal Steel and Power Ltd (JSPL) has bagged the Kasia iron ore and dolomite block at 118 per cent premium.

The financial bidding for the mineral block was carried out yesterday evening and JSPL emerged as top bidder, sources said today.   

At least 13 companies had submitted bids for the Kasia block, of which seven companies cleared the technical bidding round and participated in the financial bidding for the block, the sources said.

The Kasia mine, spread over 194.19 hectares, was earlier operated by Aditya Birla Group owned Essel Mining. The lease of this block has expired.  

The financial bidding for 11 mineral blocks, for which NIT was issued on July 7, has started from Saturday. Total 123 bids have been received by the state for the 11 mineral deposits.

Out of 11 mining blocks, seven are virgin blocks while leases of four blocks have expired. The other three blocks, whose lease has already expired are—Nadidih Iron Ore Block (BICO), Nadidih Iron Ore & Manganese Block (FEEGRADE) and Teherai Iron ore & Manganese Block.

Similarly, the seven virgin blocks include Purheibahal Iron Ore Block, Chandiposhi Iron Ore Block, Jumka Pathriposhi Iron Ore Block, Dholtapahar Iron Ore Block, Netrabandha Pahar (West) Iron Ore Block and Gandhalpada Iron Ore Block and the only the Karlapat bauxite mineral block.

Bidders, who will bag these un-explored blocks, would have to develop these blocks for mining, said the sources.

Big players including JSPL, Adani, JSW, Tata Steel, ArcelorMittal, Essel Mining & Industries Limited, Rungta Mines Ltd, MSPL, Vedanta and NMDC are in the race for the mines.