It was reported that Jindal Steel and Power Limited (JSPL), an Indian steel and energy company, has won the Guali iron ore mines in an ongoing auction on March 19th in Odisha, India.

In addition to JSPL, 13 companies, including JSW, Adani Group, KJS Ahluwalia, also participated in the bidding. In the end, JSPL promised to pay a 144% premium to obtain the Guali mines.

The Guali iron ore mines were located in the Keonjhar District of Odisha, covering more than 365 hectares with an estimated reserve of 198 million tons.

It was understood that JSPL planned to increase its steel production capacity in India by 23% to 8 million tons.