Coal India Emerges Preferred Bidder for Odisha Iron Ore Block

Coal India Ltd has been selected as the preferred bidder for the Gadadharpur iron ore block in Odisha's Kendujhar district, following a premium bid of 114.05% of the mineral's value. The block, at the G3 exploration stage, contains an estimated 288 million tonnes of resources.

The company has one year to meet conditions for successful bidding and three years to execute the mining lease. This acquisition is part of Coal India's strategy to diversify into non-coal sectors and critical minerals, including thermal power and renewable energy, amid increasing steel production capacity in India. The shift could significantly impact the domestic iron ore market, with consumption expected to rise as infrastructure development accelerates.