NEW DELHI: Vedanta Ltd emerged highest bidder for a coal block in Odisha offering a premium of 21% while Hindalco Industries NSE 2.84 % placed a winning bid for another coal block in Jharkhand offering 14.25% premium in India’s pilot auction of mines for commercial purposes. The country’s first commercial coal auctions began on Monday with five blocks.
Vedanta placed the highest bid for Radhikapur West coal mine with 312 million tonnes of geological reserves, pipping EMIL Mines and Minerals Resources Ltd and Jindal Steel and Power NSE 3.46 % Ltd.
