Vedanta emerges highest bidder for Jamkhani coal block

Vedanta Limited participated in the bidding round for the Jamkhani coal block in Sundargarh district, Odisha,and emerged as the highest bidder in the 10th tranche of the captive coal block auction conducted by the Ministry of Coal, Government of India. The coal block is in the proximity to the company’s Jharsuguda aluminium smelter.

The Jamkhani coal block is one of the most attractive coal blocks for the company’s Jharsuguda plant in terms of location, annual capacity, reserves and readiness to produce.

The approved per annum capacity of the mine is 2.6 million tonnes. It has an extractable reserve of 114 million tonnes. Once operational, it will provide fuel security, improve power availability, and further strengthen the company’s aluminium operations and performance.

After the Chotia coal block in Chhattisgarh, This is the company’s second coal block that has an annual capacity of 1 million tonne.

Last week, the Ministry of Petroleum and Natural Gas had granted its approval for a 10-year extension of the Production Sharing Contract (PSC) to Cairn Oil & Gas, Vedanta Ltd., for the Ravva block in Andhra Pradesh.

On Wednesday, the stock of Vedanta had closed at Rs. 148.25.  It opened at Rs. 152.80 on Thursday, up by 3.1 per cent.