Jindal Steel Secures 50‑Year Mining Lease for Roida‑I Block in Odisha
New Delhi / Bhubaneswar, July 5, 2025 – Jindal Steel & Power Limited (JSPL) has secured a 50‑year mining lease for the Roida‑I iron ore and manganese block in Odisha’s Keonjhar district. The company received a formal Letter of Intent (LoI) from the Odisha government following a successful bid in an electronic auction conducted on June 6, 2025.
The Roida‑I block spans approximately 104.84 hectares and contains an estimated 126.05 million tonnes of iron ore and manganese resources. It has been granted environmental clearance for an annual extraction capacity of three million tonnes. JSPL’s Executive Director, Pankaj Malhan, described the acquisition as a vital milestone in the company’s strategy to bolster its backward integration and raw material security. He emphasized that access to this block will help ensure consistent raw‑material supply, enhance cost efficiency, and support long‑term growth objectives.
According to JSPL, the Roida‑I block represents a strategic asset that underpins its integrated steel production operations, particularly across the mineral‑rich corridor of Odisha and eastern India. The company has positioned itself as the preferred bidder under the Mines and Minerals Development and Regulation Act of 1957 and the accompanying Mineral Auction Rules of 2015. Once formal approval of the lease is issued, JSPL plans to develop mining operations under stringent environmental and social compliance norms.
Odisha’s decision to auction the Roida‑I block is part of the state government’s wider push to open up ten mineral blocks for lease across the region, including several iron ore and manganese assets in Keonjhar and Sundargarh districts. Officials suggest the auction drive forms part of a broader economic policy aimed at increasing mineral‑sector contributions and attracting industrial investment.
JSPL, formerly known as Jindal Steel and Power, is a major industrial player with diversified operations in steel, mining, power, and infrastructure, and global investments amounting to around 12 billion USD. Historically, the company has invested heavily in Odisha, including its flagship integrated steel plant in Angul, which currently has a capacity of six million tonnes per annum and is being expanded rapidly.
As part of its Odisha expansion strategy, JSPL plans to scale the Angul plant from six million to 12 million tonnes per annum within the current year, and further to 25.2 million tonnes per annum by 2030, making it among the world’s largest and most sustainable steel plants. The Roida‑I mine is expected to become a key raw‑material source feeding into these operations, helping to reduce logistics costs, strengthen supply chain reliability, and optimize production efficiency.
On the economic front, JSPL anticipates that access to Roida‑I will generate employment opportunities during both the mining development phase and ongoing operations. The company has signaled its intent to invest in local infrastructure, community development programs, and environmentally responsible mining practices. However, JSPL will need to navigate regulatory clearances and obtain the formal lease deed from the state government as a next step in the process.
In terms of market response, JSPL’s share price responded positively to the news. On July 4, 2025, the stock was trading around INR 960 to INR 962 per share, reflecting a modest uptick following the announcement of the mining lease award.
Overall, the acquisition of the Roida‑I block represents a major strategic win for Jindal Steel. It cements the company’s commitment to strengthening its material supply chain, advancing India’s Make‑in‑India steel vision, and driving growth from the mineral corridors of eastern India. As it implements the mining plan in alignment with environmental safeguards and sustainability goals, the company is expected to further entrench its industrial presence in Odisha and bolster local economic development.
