Coal news and updates

Steel maker Mukund Ltd today said it has moved court challenging government decision to deallocate a coal block in Jharkhand alloted to it for captive use. 

 

"The company has filed a writ petition...Before the High Court of Jharkhand at Ranchi challenging the de-allocation of aforesaid coal block by the Ministry of Coal, Government of India, on February 24, 2014. The writ petition is yet to be heard by the court," the company said in a filing to BSE. 

 

"The...Development will not impact the current operations of the company," the company said. 

 

The company said that it has received a letter dated February 17, 2014 from the Coal Ministry conveying decision of the competent authority to de-allocate forthwith Rajhara North (Central & Eastern) coal Block, in Jharkhand, it said. 

 

"This letter...Was also published on the website of the Ministry of Coal," it added. 

 

The company had signed joint venture agreement with Vini Iron & Steel Udyog Ltd in 2008 for captive mining of coal block as per the letter for allocation of coal block issued by the ministry, it added. 

 

The decision to deallocate mine came after the recommendations of an inter-ministerial group (IMG) on coal blocks. 

 

The IMG under the chairmanship of Additional Secretary, Coal, has members from other ministries, including steel, power and environment.

 

 

Source: PTI