JSPL rises on receiving mining lease grant from Government of Odisha

Jindal Steel & Power Limited (JSPL), an industrial powerhouse of the country, informed this morning that it has received the grant of mining lease of the Kasia iron & dolomite mine from the Government of Odisha.

The mine is located 17 km away from the company’s Barbil pellet plant in Odisha and has an environmental clearance (EC) of 7.5 MTPA. Furthermore, it has a huge resource of 278 million tonnes of iron ore comprising an average Fe grade of approximately 62.5 per cent and lumps to the ratio of 20:80.  

The company can start operations in this mine within a short period. This grant will enhance backward integration for JSPL in the current fiscal year and also provide significant raw material security to the company.

Owing to this development, at 11.06 am, the share price of Jindal Steel & Power Limited was trading at Rs 371, which was an increase of 1.31 per cent from the previous day’s closing price of Rs 366.05 on BSE.