Coal news and updates

Lohari coal block gets closing bid of Rs2,438 per tonne

 Lohari coal block in Jharkhand has been sold to Araanya Mines for Rs.2,438 a tonne—the highest bid so far in the second round of auctions of schedule III category coal mines. Araanya Mines Pvt. Ltd emerged as the successful bidder on Monday, in an auction that ended close to midnight, according to MSTC E-commerce website. MSTC Ltd is the nodal agency to monitor the ongoing coal auctions. Lohari has a total extractable reserve of 9 million tonnes and was earlier allotted to Usha Martin Ltd. Tata Sponge Iron Ltd and Rungta Mines Ltd were among seven entities that had put in a technical bid for the mine. Of the 14 mines lined up in this round of auctions, only one remains to be put under the hammer. The Jamkhani block is likely to be auctioned on 13 March, according to the MSTC website schedule.

source: http://www.livemint.com