 "iron ore mine")
Sajjan Jindal-led JSW Steel has bagged the immense Nuagaon iron ore block in Odisha in keenly contested iron ore auctions.
The block, currently held by merchant miner KJS Ahluwalia with deposits of 790 million tonnes of iron ore, is the first of 21 lapsing blocks to have been successfully auctioned. JSW Steel quoted a premium of 95.2 per cent and won the block at online auctions, upstaging strong contenders like ArcelorMittal and Vedanta Ltd.
Owing to its enormous deposits, the reserve price for the Nuagaon block was pegged at 50 per cent of the sale value of the embedded ore. Also, the
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