Value Chain

How Odisha’s minerals multiply in value — and who captures it

A tonne of iron ore leaves an Odisha mine at about Rs 4,200. By the time that same tonne becomes auto-grade steel in a car door, it’s worth Rs 85,000 — and the car door isn’t made here.

In OdishaOutside Odisha

Mining (Fe 62-65%)
1x
Raw iron ore extracted from open-cast mines. Odisha's Keonjhar and Sundargarh districts account for 96% of production.
Key players
OMC, NMDC, Tata, JSPL
Capital
Rs 500-1,000 Cr per mine
EBITDA
50-60%
Odisha’s role
Primary producer — 55% of India

Mining (Fe 62-65%)

Raw iron ore extracted from open-cast mines. Odisha's Keonjhar and Sundargarh districts account for 96% of production.

Key players: OMC, NMDC, Tata, JSPL
Capital: Rs 500-1,000 Cr per mine
EBITDA: 50-60%
Odisha’s role: Primary producer — 55% of India

179 MTProduction
Rs 75,642 CrMine-gate Value
55%India Share
15%Processed In-State
Rs 42,000+ CrState Revenue
~4%Value Captured

Odisha mines 55% of India's iron ore. 85% leaves as raw material — the steel is made in Jharkhand, Karnataka, Maharashtra.

References

Per-stage price verification

1Mining (Fe 62-65%)Rs 3,800-4,500/t (medium grade lumps, FY 2024-25)
NMDC FY24-25 notifications · SteelMint Odisha index
2PelletizationRs 7,500-9,000/t (BF pellet, FY 2024-25)
SteelMint Odisha BF pellet avg · JSPL Angul realisation
3Sponge Iron / DRIRs 25,000-32,000/t (East India coal-based DRI)
SteelMint East India DRI avg Mar 2025
4Crude SteelRs 35,000-42,000/t (billet, Raipur basis)
SteelMint billet index FY24-25
5Hot Rolled CoilRs 48,000-55,000/t (HRC, Mumbai basis)
JSW Steel notifications Jan-Apr 2025 · Tata HRC list price
6Auto-grade SteelRs 80,000-90,000/t (AHSS, bake-hardening grades)
CRISIL ferrous outlook 2024

Per-tonne stage prices: Full Read · Value Chain · Ch.1 (The Tonne's Journey), cross-verified with industry sources listed above.
Mine-gate quantity & value: Odisha Economic Survey 2025-26 · Ch.5 District-wise Mineral Extraction

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