Adani Power bagged the Jitpur coal block while Usha Martin won Brinda and Sisai mines and JSW Steel won the Moitra block in Jharkhand in the second tranche of electronic auction of coal mines which began on Wednesday.
These blocks are part of 204 coal mines cancelled by the Supreme Court in September last year, which held their allocation as illegal and arbitrary. In the first tranche, the coal ministry has electronically auctioned 19 mines which fetched proceeds worth over Rs 1 lakh crore to the exchequer.
Special steel producer Usha Martin won the bids for Brinda and Sasai blocks at Rs 1,804 a tonne. Both these blocks have been clubbed as one mine for the bid. They together have total extractable reserves of nearly 26 million tonne. The firm beat companies like Balco and Sesa Sterlite to bag the mines. Sajjan Jindal-promoted JSW Steel won the Moitra coal mine at Rs 1,512 a tonne beating firms like Jayaswal Neco Industries and state-run SAIL.
Adani Power has bagged the Jitpur mine at Rs 302 a tonne. Other firms in the race to win the bid for this mine include Adhunik Power and Natural Resources, Jaiprakash Power Ventures and Jindal Power.