JSW Steel Surrenders Odisha Iron Ore Lease - Uneconomic Operation
Aug 04, 2024 13:56
JSW Steel has surrendered a mining lease for a block in Odisha, citing "uneconomic operation." The Jajang iron ore block was acquired through an auction in 2020.
Photograph: Danish Siddiqui/Reuters
New Delhi, Aug 4 (PTI) JSW Steel has submitted a notice to surrender a mining lease for a block in Odisha, citing "uneconomic operation".
Jajang iron ore block in Keonjhar, is one of the four iron ore mining leases which were acquired through an auction in 2020, JSW Steel said in a regulatory filing on Saturday.
"JSW Steel due to un-economic operation, has submitted a notice for surrender of mining lease on August 3 in respect of Jajang Iron Ore Block...," it said.
The proposed surrender of the aforesaid mining lease is subject to requisite approvals, JSW Steel said.
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