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JSW Steel declared preferred bidder for Codli Mineral Block XII in Goa

The mineral block is expected to contain iron ore resources estimated at 48.5 MT

Published

11 months ago

November 22, 2024

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JSW Steel has been declared the preferred bidder for the Codli Mineral Block XII located at Dharbandora in Goa, according to an announcement made by the company. The Directorate of Mines & Geology, Government of Goa, communicated this decision to JSW Steel, marking a significant step in the company’s expansion plans in the region.

JSW Steel’s bid, which included the highest final offer price at 92.60% of the value of mineral dispatched, was selected over other contenders. The mineral block is expected to contain iron ore resources estimated at 48.5 million tonnes, in addition to 2.7 million tonnes of ore already stockpiled in dumps.

The company has stated that it will now begin the process of obtaining the necessary statutory clearances and the Letter of Intent from the government, which will allow them to execute the lease deed and commence mining operations.

In a separate development, JSW Steel’s Italian arm, JSW Steel Italy Srl, has entered into a commercial agreement with Metinvest Adria S.p.A., under which Metinvest will pay a release fee of Euro 30 million. This agreement is part of JSW Steel’s broader strategy to expand its global operations and enhance its portfolio of mining and steel production assets.

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Jindal Stainless Launches First Stainless Steel Fabrication Unit in Mumbai

It will also serve as a centre of excellence for skill development, preparing India’s workforce for sustainable infrastructure projects.

Published

5 days ago

October 7, 2025

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Jindal Stainless, India’s largest stainless steel manufacturer, through its subsidiary Jindal Stainless Steelway (JSSL), has inaugurated its first stainless steel fabrication unit at Washivali, Patalganga, Mumbai. The 4 lakh sq ft facility is designed to serve the bridge sector, fabricating critical components such as girders, arches, nuts, bolts, and handles. The unit was inaugurated by CEO & CFO Tarun Khulbe in the presence of senior leadership.

Developed with an initial investment of Rs 1.25 billion, the facility strengthens Jindal Stainless’ position as a provider of end-to-end fabrication solutions for India’s growing infrastructure sector. The unit is expected to scale from 4,000 tonnes in FY25 to 18,000 tonnes annually by FY26-27, creating over 250 direct jobs and benefiting 150+ families indirectly. It will also serve as a centre of excellence for skill development, preparing India’s workforce for sustainable infrastructure projects.

Abhyuday Jindal, MD, Jindal Stainless, said, “This fabrication unit represents another step in our efforts to provide integrated solutions for customers. Bridges are critical connectors, and this facility ensures end-to-end quality management for safer and longer-lasting structures.”

Tarun Khulbe, CEO & CFO, added, “By combining material excellence with skilled fabrication and streamlined processes, we are bridging the gap between stainless steel production and high-quality infrastructure delivery.”

Jindal Stainless has supplied stainless steel for landmark projects nationwide, offering corrosion-free, durable solutions with lifespans exceeding 100 years. The Mumbai facility marks the company’s entry into direct fabrication, offering complete solutions to infrastructure developers. Future expansions will include solar-powered operations, aligning with the company’s ESG goals and commitment to sustainable growth.

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Kretinsky Exits Thyssenkrupp Steel Stake as JV Plans Stall

Stake sale clears path for talks with India’s Jindal Steel

Published

6 days ago

October 6, 2025

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Czech billionaire Daniel Kretinsky has sold his 20 per cent stake in Thyssenkrupp Steel Europe and abandoned plans for a 50:50 joint venture, the companies announced. The decision enables Thyssenkrupp to intensify discussions with Jindal Steel International for a possible acquisition.

The move follows stalled negotiations between Thyssenkrupp and Kretinsky’s EP Group amid union opposition. The European steel sector continues to face high energy costs, cheap Chinese imports and delayed hydrogen-based decarbonisation.

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Nippon Steel Buys 30% Stake In Canada’s Kami Iron Ore Project

Nippon Steel invests C$42 million in Canada’s Kami iron ore project.

Published

1 week ago

October 3, 2025

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Japan’s largest steelmaker, Nippon Steel, has acquired a 30 per cent stake in Canada’s Kami iron ore project, forming a joint venture with Australia’s Champion Iron and trading house Sojitz to secure supplies of high-grade ore for direct reduced iron production.

Through its subsidiary NS Canadian Resources, Nippon Steel has paid C$42 million (Rs 2.5 billion) of the total C$150 million (Rs 9 billion) investment, with the remaining C$108 million (Rs 6.5 billion) subject to an additional investment decision based on a feasibility study.

The deal builds on a December agreement in which Nippon Steel and Sojitz purchased a 49 per cent interest in the project from Champion Iron for C$245 million (Rs 14.7 billion). Under the new joint venture, Kami Iron Mine Partnership, the companies will advance the feasibility study for the Newfoundland and Labrador project.

Nippon Steel said the project’s high-grade ore is ideal for producing direct reduced iron, which, together with high-quality scrap, is crucial for operating large electric arc furnaces. The company plans to expand such furnaces to lower carbon emissions as part of its decarbonisation strategy.

Having recently acquired U.S. Steel, Nippon Steel has been strengthening its stakes in coking coal and iron ore mines worldwide to ensure long-term security of critical raw materials.