Coal news and updates

Coal auction day 2: Trimula bags coal mine in Jharkhand

On the second day of the second lot of coal block auctions, Trimula Industries Ltd bagged Meral mine for non-power sector in Jharkhand, taking the total number of mines won by the companies to five.

“Meral coal block closes at Rs. 727 (per tonne),” Coal Secretary Anil Swarup tweeted.

Trimula bagged the mine by outbidding two companies—Easternrange Coal Mining Pvt Ltd and Usha Martin Ltd.

Meral mine, earlier alloted to Abhijeet Infrastructure Pvt Ltd, is in the Palamau district of Jharkhand and has extractable reserves of 12.67 million tonnes.

On account of Holi on Friday, there would be no auction of the mines. However, on March 7, three blocks—Tara (for power sector) and Nerad Malegaon and Dumri mines (for non-power sector) would be on offer.

Government has put on auction at least 15 ready-to-produce mines in the second leg of auction.

The auction proceeds from first lot of 19 mines is over Rs 1 trillion.

The coal block auctions are taking place following the Supreme Court’s decision last year to cancel the allocation of 204 coal mines.

source: http://www.thehindu.com