Latest News | ACC Bags Lamatola Coking Mine on 3rd Day of Auction

New Delhi, Mar 14 (PTI) Cement major ACC Ltd bagged the Lamatola coking coal block situated in Madhya Pradesh on Thursday in the ongoing nineth round of auction of commercial coal mines, according to an official release.

ACC submitted the final bid offering a premium of 16.75 per cent against the reserve price of 4 per cent.

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"Including today's auction, a total of 4 coking coal mines have been auctioned under the ongoing rounds of auction. Once operationalized, these coal mines will reduce the dependency of country on imported coking coal," the Coal Ministry said.

The latest round of commercial coal mine auctions was launched by the Coal Ministry on December 20, 2023. As many as 32 coal mines were put on the block.

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The Lamatola coking coal mine located in Madhya Pradesh has 200 million tonnes reserves of coking coal.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)