Adani to own 1st coal mine in India, bids inch up on Day 2 of auctions
For the first time, port-to-power conglomerate Adani Enterprises will own a coal mine in India. The company is the largest mine developer and operator (MDO) or end-to-end mining contractor in India with contracts for 11 mines and one coal washery.
Stratatech Mineral Resources, a subsidiary of Adani Group, placed the highest closing bid for Dhirauli mine in Madhya Pradesh (MP). It edged out the only other bidder Hindalco Industries by quoting 12.5 per cent premium on the revenue share.
Dhirauli mine in the Singrauli district has a peak rated capacity of 3 million tonnes per annum (mtpa). The mine is in proximity to Adani’s MDO project in Suliyari coal mine owned by the Andhra Pradesh government. Under the MDO model, Adani takes up mining operations on a turnkey basis. It has MDO contracts of state-owned utilities.
