Coal India wins Odisha iron ore block

Coal India, India's state-run coal miner, has been declared the preferred bidder for the Gadadharpur iron ore block in India — Odisha's Kendujhar district through a competitive auction. The block holds an estimated 288 million tonnes of iron ore resources, marking Coal India's entry into iron ore mining. The company will pay the India — Odisha government a premium of 114.05% of the value of minerals dispatched. The acquisition is part of Coal India's diversification strategy beyond coal into critical minerals and other mining segments. India, the world's second-largest crude steel producer, is expected to produce 340-345 million metric tons of iron ore in 2026-27, up from about 316 million tons a year earlier, according to BigMint. Rising iron ore output in India — Odisha is expected to support planned steelmaking capacity additions and infrastructure and construction demand.