JSW Steel has expressed to the Odisha government its readiness to give up claim over the Gonua iron ore mine that it had acquired at the Odisha minerals auction in 2020 for a premium of 132%, as per SteelMint reports. JSW is surrendering the block because it has become economically unviable to operate it at a high premium, given the low grade of iron ore in the upper benches of the mine, logistical constraints as well as undisposed old stocks. The company had earlier declared that it would be surrendering both Gonua and Jajang iron mines. SteelMint has come to learn from sources that JSW may eventually surrender the Jajang mine too.
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