Coal news and updates

Mandakini Exploration and Mining bags coal block in Odisha

 Mandakini Exploration and Mining, a joint venture between Monnet Ispat & Energy and Jindal India Thermal, bagged the Mandakini coal block in Odisha for a price of Rs 602 per tonne while agreeing to forego the mining cost.

The joint venture outbid Adani Power, which had submitted two bids for the block, GMR Energy, Jindal Power, and Wigeon Commotrade Pvt Ltd to bag the mine which has 322 million tonnes of reserve and annual production capacity of 7.5 million tonnes. The block was earlier owned by Monnet Ispat & Energy Ltd, Jindal Photo Lab and Tata Power Company.

Trimula Industries won the Meral coal block in Jharkhand, beating Usha Martin and Easternrange Coal Mining Pvt Ltd. The block, previously owned by Abhijeet Infrastructure, has 12.8 million tonnes of coal reserves.

Bidding for the Tara block in Chhattisgarh for power companies will begin on Saturday. Two blocks for steel and cement sectors — Nerad Malegaon and Dumri — will also be bid out. The Tara block is being eyed by Adani Power, which has submitted three bids, Athena Power, Jindal Power, JSW Energy, KSK Mahanadi Power, Lanco Infratech and RattanIndia Power.

The mine, previously owned by Chhattisgarh Mineral Development Corporation, has 167 million tonnes of coal reserves. Godawari Power and Ispat Ltd, Grace Industries, Indrajit Power Pvt Ltd, OCL Iron and Steel Ltd and Sunflag Iron and Steel Company are the qualified bidders for the Nerad Malegaon mine in Maharasthra.

Bharat Aluminium Company, Easternrange Coal Mining Pvt Ltd, Hindalco Industries, Lakeview Dealtrade Pvt Ltd, Rungta Mines, SS Natural Resources Pvt Ltd, Sesa Sterlite and Usha Martin are the qualified bidders for the Dumri mine in Jharkhand.


source: http://economictimes.indiatimes.com