New Delhi: Adani Group’s Stratatech Mineral Resources Pvt Ltd on Tuesday emerged as the highest bidder for a large coal block in Madhya Pradesh by offering a revenue share of 12.5%. The company pipped Hindalco Industries to bag the Dhirauli coal mine which has geological reserves of 586.39 million tonnes and is estimated to generate Rs 398.27 crore revenue per annum when mines attains peak production capacity of 3 million tonnes.
On the second day of coal auctions, the Andhra Pradesh Mineral Development Corp offered a whopping 41.75% revenue share to emerge as the highest bidder for a small mine in Jharkhand. The Brahmadiha coal block has geological coal reserves of 5 million tonnes and is likely to generate annual revenue of Rs 114.81 crore once it reaches peak rated capacity.
