New Delhi: Continuing aggressive bidding, Hindalco Industries has bagged one more mine in the ongoing coal auction, taking the total number of blocks won by the firm to three that includes two in Chhattisgarh and one in Jharkhand.
"Hindalco is the highest bidder at Rs 3,001 (per tonne) for Gare Palma 4/4," Coal Secretary Anil Swarup tweeted.
Hindalco had on February 15 bagged Kathautia mine in Jharkhand and also won GareIV/5 mine in Chhattisgarh on February 19.
Gare Palma IV/4 mine in Chhatisgarh is the third block bagged in the ongoing auction by the Aditya Birla Group firm last night, sources said. The bidding for the mine continued for more than 12 hours yesterday.
The states will get over Rs l lakh crore, including royalty, over the next 30 years from sale of 17 coal blocks sold so far through the ongoing auction.
Besides, reverse auction for the power sector will result in benefits to the tune of Rs 37,050 crore to end-users by way of a cut in tariff, Coal Secretary Anil Swarup had said yesterday.
The government has put on block 19 mines in the first tranche of auction.
The Gare Palma IV/4 mine has extractable reserves of 12.30 million tonnes (MT).
Hindalco emerged as the successful bidder among companies like ACC, Balco, Godawari Power and Ispat, Jayaswal Neco Industries, Rungta Mines and SKS Ispat and Power which were vying for it.
The block was previously held by Jayaswal Neco Ltd.
The mine today on offer is Gare Palma IV/1 in Chhattisgarh which has extractable reserves of 49.57 MT.
The companies vying for the mine are Balco, Hindalco and Rungta Mines.
Tomorrow is the last day for the auction of mines in the first tranche. The auction of second lot of mines will start from February 25.
Hindalco had on February 15 bagged Kathautia mine in Jharkhand and also won GareIV/5 mine in Chhattisgarh on February 19.
Gare Palma IV/4 mine in Chhattisgarh was the third block bagged in the ongoing auction by the Aditya Birla Group firm last night, sources said. The bidding for the mine continued for more than 12 hours.
The Gare Palma IV/4 mine has extractable reserves of 12.30 million tonnes (MT).
Hindalco emerged as the successful bidder among companies like ACC, Balco, Godawari Power and Ispat, Jayaswal Neco Industries, Rungta Mines and SKS Ispat and Power which were vying for it.
The block was previously held by Jayaswal Neco Ltd.
Besides, reverse auction for the power sector will result in benefits to the tune of Rs 37,050 crore to end-users by way of a cut in tariff, Coal Secretary Anil Swarup had said yesterday.
Tomorrow is the last day for the auction of mines in the first tranche.
Gare Palma IV-7 mine in Chhattisgarh earmarked for the non-power sector is the most sought after mine in the current lot of mines put on auction in the first tranche.
The coal ministry had earlier shortlisted 12 technically qualified bidders for the mine. The bidders include Balco, Hindalco, JSPL, Jaiprakash Associates, Monnet Ispat & Energy Ltd and Rungta Mines.
The auction of second lot of 21 mines will start from February 25.
