Coal news and updates

GMR wins Ganeshpur coal block

GMR Chhattisgarh Energy Ltd emerged as the successful bidder for the Ganeshpur coal block, which was auctioned on Sunday. GMR Chhattisgarh Energy submitted a closing bid of Rs.704 per tonne for the block, according to the MSTC E-commerce website. MSTC Ltd is the nodal agency to monitor the coal auctions. Ganeshpur coal block was reserved for the power sector and GMR Chhattisgarh Energy has agreed to forego the mining cost for the block. Ganeshpur has an extractable reserve of 91.8 million tonnes. The block in Jharkhand was earlier allotted to Tata Steel Ltd and Adhunik Thermal Energy. On Monday, Utkal-C and Lohari coal blocks are likely to be auctioned, as per the schedule shared on the MSTC website.

source: http://www.livemint.com