1. Bagiaburu iron ore ramp-up - Mining at the Bagiaburu mine started in December 2023 with reserves of 4.08 million tonnes and an environment-clearance-granted capacity of 0.36 million tonnes per annum. This is the company's only operating mine, so every additional tonne shipped directly lifts revenue from a near-zero base.
2. Belkundi mine resumption - The public hearing for Belkundi was completed on 17 August 2024 and the company has furnished compliances to the EAC's 15-point query on 21 May 2025, with a Review Petition now planned before the Supreme Court to re-list the environment-clearance proposal. A Rs 176.53 crore inter-corporate loan from RINL is earmarked for statutory dues at Belkundi and Bhadrasahi, so clearance would unlock funded restart of a second mine.
3. Bhadrasahi mine resumption - On 29 April 2026, the Odisha government approved extension of forest clearance validity for Bhadrasahi up to 30 September 2030, co-terminus with the extended mining lease. This removes one of the two pending clearance hurdles, bringing resumption closer and allowing the Rs 176.53 crore RINL loan to be deployed for statutory payments.
4. Jai Balaji litigation closure - The Supreme Court dismissed OMDC's Special Leave Petitions on 8 May 2026, affirming the arbitral awards in favour of Jai Balaji Industries. Finality on this two-decade-old dispute removes a contingent overhang and lets management focus capital and attention entirely on mine operationalisation.