ACC grabs Lamatola coking mine on third day of auction
According to an official release, cement major ACC Ltd on Thursday grabbed the Lamatola coking coal block located in Madhya Pradesh in the ongoing ninth round of auctions of commercial coal mines. The ACC submitted the final bid, offering a premium of 16.75 percent against the reserve price of 4 percent.
"A total of four coking coal mines have been offered for auction in the ongoing auction round, including today's auction. The country's dependence on imported coking coal will decrease once these coal mines are up and running," the coal ministry said.
The latest round of commercial coal mine auctions was initiated by the Coal Ministry on December 20, 2023. 32 coal mines were placed in the block. There are reserves of 200 million tonnes of coking coal at the Lamatola Coking Coal Mine in Madhya Pradesh.
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