The eastern Indian state of Odisha is currently in the process of auctioning eight iron ore blocks with aggregate reserves of 323 million mt and aims to complete the auction of 22 additional blocks by March 2026, state chief minister Mohan Charan Majhi said in a statement on Wednesday, April 30.
The chief minister said that this was in line with the aim of Odisha achieving iron ore production of 240-250 million mt and accounting for 70 percent of consumption in the country. The state currently accounts for 58 percent of iron ore consumption in the country.
At present, Odisha leads the country in the production of both crude steel and stainless steel, with 54 integrated steel plants and an installed capacity of 41.21 million mt per annum. The target is to produce over 130 million mt by 2030, Majhi said. He said that the government is now focused on transitioning from a model of raw material extraction to value creation.
“Odisha is developing a full-fledged metal-based manufacturing value chain that will promote industries in engineering goods, transport systems, mining machinery, and components for aerospace and defence,” he said.