JSW Steel surrenders Odisha iron ore lease due to financial issues
COAL & MINING

JSW Steel surrenders Odisha iron ore lease due to financial issues

JSW Steel has formally notified the surrender of its mining lease for the Jajang iron ore block in Keonjhar, Odisha, due to economic unviability. The block was one of four iron ore mining leases acquired through an auction in 2020.

In a regulatory filing, JSW Steel stated that the decision to surrender the lease was made on August 3, citing "uneconomic operation" as the primary reason. The surrender is pending requisite approvals from the authorities.

JSW Steel's move reflects the challenges faced in the mining sector and highlights the need for economic feasibility in operations.

(ET& PTI)

JSW Steel has formally notified the surrender of its mining lease for the Jajang iron ore block in Keonjhar, Odisha, due to economic unviability. The block was one of four iron ore mining leases acquired through an auction in 2020. In a regulatory filing, JSW Steel stated that the decision to surrender the lease was made on August 3, citing uneconomic operation as the primary reason. The surrender is pending requisite approvals from the authorities. JSW Steel's move reflects the challenges faced in the mining sector and highlights the need for economic feasibility in operations. (ET& PTI)

Next Story
Infrastructure Urban

What Industry Wants!

The construction industry is gearing up for Budget 2025 with high expectations. As one of India’s key economic drivers, the sector is eagerly anticipating reforms and policies to address pressing challenges such as high input costs, funding gaps, and sustainability demands. Industry leaders across real estate, infrastructure, construction materials, and logistics have shared their wishlists, urging the government to focus on GST rationalization, increased CAPEX, and green initiatives.This year’s budget presents an opportunity for the government to not only tackle existing bottlenecks but a..

Next Story
Infrastructure Urban

Messe Stuttgart, Startup India Tie-Up to Boost Funding

The logistics market in India is poised for significant growth, with a projected revenue of $357.3 billion by 2030. Despite this huge potential, a recent McKinsey & Company report highlights the decline in logistics funding following the pandemic that remains a significant concern. After receiving unprecedented funding of $25.6 billion in 2021, venture capital investment in logistics startups fell sharply to $2.9 billion in 2023—a nearly 90 per cent decrease, marking the lowest since 2015. This pullback from investors is attributed to several factors, including high interest rates, a glo..

Next Story
Infrastructure Transport

JK Tyre Strengthens Road Safety Commitment

Reinforcing its unwavering commitment to road safety, JK Tyre & Industries, a leader in the tyre manufacturing industry, partnered with the Delhi Traffic Police to organise a comprehensive Road Safety Awareness Week. This initiative, held as part of National Road Safety Month (January 1–31, 2025) spearheaded by the Ministry of Road Transport and Highways (MoRTH), aimed to foster responsible driving habits and reduce road accidents. Under the theme ‘Sadak Suraksha Jeevan Raksha,’ the initiative commenced on January 16, 2025, at the Delhi Police Traffic Training Park, BKS. The program feat..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000