JSW Steel Surrenders Odisha Mining Lease Citing Uneconomic Operations

JSW Steel has decided to surrender its mining lease for the Jajang iron ore block in Odisha due to unprofitable operations. Acquired through a 2020 auction, the surrender is pending regulatory approvals.

JSW Steel has announced its decision to surrender the mining lease for the Jajang iron ore block in Odisha, attributing the move to 'uneconomic operations'.

The iron ore block, located in Keonjhar, is one of four mining leases JSW Steel acquired through a 2020 auction. The company revealed this in a regulatory filing on Saturday.

The surrender of the lease, dated August 3, is pending necessary approvals, according to the filing.