Coal news and updates

NTPC inks pact to hive off mining biz to its subsidiary

On July 29, 2023, the company informed the bourses about the approval of the Board of Directors of NTPC Ltd for hiving off its coal mining business, consisting of 6 coal mines, to its wholly-owned subsidiary NTPC Mining Ltd through a Business Transfer Agreement.

State-owned power giant NTPC on Thursday inked a business transfer agreement (BTA) to hive off its mining business, comprising six coalfields, to its arm NTPC Mining Ltd. "NTPC Ltd and NTPC Mining Ltd (NML) have executed the BTA on August 17, 2023, in New Delhi. The BTA shall become effective upon completion of the conditions precedent mentioned in the BTA," a BSE filing stated.

On July 29, 2023, the company informed the bourses about the approval of the Board of Directors of NTPC Ltd for hiving off its coal mining business, consisting of 6 coal mines, to its wholly-owned subsidiary NTPC Mining Ltd through a Business Transfer Agreement.