Indian coal company wins Odisha iron ore block: another step in diversification

India's state-owned Coal India has become the preferred bidder for the Gadadharpur iron ore block in Odisha, as it seeks to expand beyond coal into other mineral resources. The auction premium offered was 114.05% of the value of mineral shipments.

Key facts

On 6 August 2026, India's state-owned mining company Coal India took a new step in its diversification strategy by becoming the preferred bidder for the Gadadharpur iron ore block in Odisha. The company is seeking to expand beyond coal into other mineral resources. This move aligns with the central government's policy direction of strengthening domestic production of key raw materials for the steel and manufacturing sectors and reducing import dependence.

Project progress

According to an exchange filing, the Odisha government selected Coal India as the preferred bidder for the mining lease through a competitive auction. Coal India's bid offered an auction premium of 114.05% of the value of mineral shipments from the mine, with the premium payable to the Odisha government. Coal India is traditionally India's largest coal producer, and this award is part of its diversification strategy.