Vedanta Limited participated in and emerged as the highest bidder for the Jamkhani coal block in Sundargarh district, Odisha, in the 10th tranche of the captive coal block auction conducted by Ministry of Coal, Government of India. The coal block is in 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.
This is the company's second coal block after the Chotia coal block in Chhattisgarh that has an annual capacity of 1 million tonne.
Shares of Vedanta Limited was last trading in BSE at Rs.148.25 as compared to the previous close of Rs. 152.55. The total number of shares traded during the day was 1546424 in over 4805 trades.
The stock hit an intraday high of Rs. 154.4 and intraday low of 147.6. The net turnover during the day was Rs. 233600301.