Bhubaneswar, March 12 -- Jindal Steel has secured another iron ore mine in Odisha with estimated reserves of nearly 38 million tonnes, according to people familiar with the development. The company won the block through a state government auction held on Wednesday.

According to a The Economic Times report, the steelmaker bagged the Rengalaberha North-East Extension and Nuagan West iron ore block by offering a premium of 111.15 per cent over the base price during the auction, sources said.

Sources indicated that the newly secured mine contains a combination of high-grade and low-grade iron ore. Of the total reserves, nearly 29 million tonnes comprise high-grade fines along with some lumps.

The high-grade ore reportedly has an iron (Fe) ...