Cement major ACC has bagged the Lamatola coking coal block situated in Madhya Pradesh in the ongoing ninth round of auction of commercial coal mines. A total of four coking coal mines have been auctioned under the ongoing rounds of auction.
ACC submitted the final bid offering a premium of 16.75 percent against the reserve price of four percent.
The Lamatola coking coal mine located in Madhya Pradesh has 200 million tonne reserves of coking coal. Once operationalised, these coal mines will reduce the dependency of country on imported coking coal, as per the Ministry of Coal.
The latest round of commercial coal mine auctions was launched by the Coal Ministry on 20 December, 2023. As many as 32 coal mines were put up in the auction.