South Eastern Coalfields (SECL) has issued a letter of acceptance (LoA) to a consortium for the re-opening, salvaging, rehabilitation, development, and operation of the Bartunga Hill high grade coal mine.
The mine will be operated through a special purpose vehicle (SPV) to be incorporated for the purpose, and the necessary agreements will be executed in due course as per the terms of the LoA. The consortium includes Sarda Energy & Minerals (SEML), which holds a 67 percent share. Further, 18 percent revenue will be shared with SECL.
South Eastern Coalfields, a wholly-owned subsidiary of Coal India (CIL) with coal reserves in Chhattisgarh and Madhya Pradesh operates 70 mines.