Jindal Steel Ltd has been declared the preferred bidder for the Thakurani-A1 iron ore block in Odisha following an online auction conducted by the state government. The company has committed to pay a 101.20% premium to the state for the mineral block located in Keonjhar district.
Spanning about 202 hectares, the Thakurani-A1 block was among 12 virgin mineral blocks auctioned by the Odisha Directorate of Mines and Geology in December 2025. The deposit is classified as a G3-level explored resource with estimated iron ore reserves of around 50 million tonnes.
The acquisition strengthens the company’s mine-to-metal strategy by integrating captive raw material resources with its steel manufacturing operations. Securing access to iron ore is expected to support long-term production stability and cost efficiency.
In its recent financial performance, the company reported revenue of ₹13,026 crore for the December quarter, marking a 10.9% year-on-year increase. However, EBITDA declined to ₹1,632 crore with margins falling to 12.5%, while net profit dropped significantly to ₹188.5 crore compared with ₹951 crore in the corresponding quarter last year.
