The state-owned NLC India Ltd (NLCIL) is all set to begin mining the Machhakata coal block in Odisha earlier than scheduled. The second commercial coal block, Machhakata, is also among the biggest NLCIL’s mining projects.
In the July commercial coal block e-auction, NLC India had emerged as the successful bidder for the Machhakata (Revised) coal block in Odisha’s Angul district.
In a statement, NLCIL said that the Machhakata coal block, with reserves of 1.4 billion tonnes (BT), an average grade of G10–G11 and a capacity of 30 MTPA, is anticipated to rank among the top five largest mines in the nation. “NLCIL aims to commence the mining ahead of schedule. This marks another milestone towards realising NLCIL’s Corporate Plan 2030,” the statement added.
The vesting order for Machhakata Coal Block was issued on Thursday.
The company had previously declared that it is dedicated to increasing capacity in accordance with its goal of surpassing 50 million tonnes per annum (MTPA) by 2030 and reaching over 100 MTPA.
NLC India’s core business is mining and power generation.
Concurrently, three coal mines that were up for auction had their Coal Mining Development and Production Agreements executed by the coal ministry on Monday. According to a statement from the coal ministry, agreements were made for the mines including Sakhigopal-B Kakurhi coal mine, Kudanali Lubri coal mine, and Machhakata (Revised) coal mine.
The successful bidders are NLC India Ltd, Gujarat Mineral Development Corporation Ltd, and Tamil Nadu Generation and Distribution Corporation Limited, respectively.
(with PTI inputs)
From: financialexpress
Financial News
