Coal news and updates

ArcelorMittal has said it had surrendered its coal block at Rampia and is awaiting coal ministry approval on it. The decision to give up the allocation followed the company's decision against pursuing its steel plant in Odisha. 

 

The company clarified its position in view of the recent news reports about inter-ministerial group (IMG) decision on de-allocation of several coal blocks, recently. 

 

"We would like to state that in July 2013 ArcelorMittal revisited its industrial plan inter-alia due to delay in grant of prospecting licence for the coal block and decided not to pursue with its Odisha project and voluntarily surrendered its stake in Rampia. Accordingly a communication was sent to the ministry of coal (MoC). We now await MoC's consent /approval in this regard," the company said in statement. 

 

Rampia and Dipside of Rampia, which was allotted to ArcelorMittal alongwith GMR, Reliance, Sterlite, Lanco and Navbharat, is one among the several coal blocks, which have been recommended by IMG for de-allocation. Post the decision to de-allocate the coal block, MoC has put further action on hold in view of the interim order of Delhi High Court in the writ petition filed by the joint venture company Rampia. 

 

Incidentally, the coal ministry has accepted the recommendation of an inter-ministerial group and issued formal letters for de-allocating 29 block on grounds of squatting. This includes those given to Essar Power , Hindalco, Tata Power and Jindal Steel and Power Ltd. 

 

Source: ET