Vedanta quotes higher bid for Jamkhani coal block

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Published: November 9, 2019 4:00:40 AM

This was the most popular blocks among the ones put up by the Union coal ministry in the latest auctions, with seven major firms participating.

Vedanta, Jamkhani coal block, Union coal ministry, Hindalco, JSW, JSPL, coal minesVedanta’s offer was against the reserve price of Rs 1,002/tonne.

Vedanta on Friday quoted the highest price of Rs 1,674 per tonne for the Jamkhani coal block located in Odisha. The coal mine has the potential to produce 2.6 million tonne of the fuel every year. Vedanta’s offer was against the reserve price of Rs 1,002/tonne.

This was the most popular blocks among the ones put up by the Union coal ministry in the latest auctions, with seven major firms participating. Apart from Vedanta, other companies in the mine included Hindalco, JSW, JSPL and Rungta Mines.

The auctioned mine is part of the 27 blocks put up for bidding by the coal ministry after, in February 2019, the Cabinet allowed private companies to sell up to 25% of production from captive coal mines in the open market. However, interest was shown for only six blocks.

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