JSW Steel has withdrawn the application for the final mine closure plan of the Jajang iron ore block in Keonjhar, Odisha. On 01 September, 2023, the company submitted a notice to the Indian Bureau of Mines (IBM) for surrendering the mining lease, citing uneconomic operation as the primary reason.
The firm had bagged the Jajang iron ore block in the auction of blocks, which holds estimated reserves of 39 MT. Overall, it has four iron ore mining leases in the state, all acquired through auctions in 2020.
JSW Steel, a prominent player in the steel industry, has decided to withdraw the surrender application for the Jajang iron ore block due to the comprehensive assessment of the demand and supply scenario for iron ore in the country.