Coal news and updates

Usha Martin to make ‘alternative arrangement’ for coal

February 17: Usha Martin, on February 17, said the company would make “alternative arrangement” for procurement of coal in the short and medium terms instead of aggressive bidding for de-allocated blocks, the company said in a statement to the BSE.

“The company would continue to have long-term focus on, and work to secure cost- effective and continuous availability of key raw materials as part of its business approach,” the statement said.

Earlier, on February 15, Usha Martin participated in the e-auction of Kathautia coal block which is being operated by the company till March, 2015.

“At the last bid value of Rs 2,860 per ton, the company took a deliberate decision of not being part of such aggressive bidding for the same not having economic justification for DRI making,” the statement added.