Coal news and updates

Vedanta has emerged as the highest bidder for the Radhikapur West coal block, located in Angul district, Odisha.

 

The block is at a distance of about 190 km from the Company’s Jharsuguda Aluminium Smelter.

 

Vedanta said, "The coal block is an optimal fit for the Jharsuguda smelter given its logistical location and annual capacity."

 

According to a  regulatory filing, the mine has total reserves of 312 million tonnes and an approved per annum extraction capacity of 6 million tonnes.

 

Once operational, Vedanta said, " it will provide fuel security, improve power availability and further strengthen the Company’s Aluminium and Power operations and performance."

 

At around 1.07 pm, Vedanta was trading at Rs160.75 per piece down nearly 1% on Sensex. 

 

Source : https://www.indiainfoline.com/article