Adani Group has emerged as the highest bidder for two coal blocks in Maharashtra and Chhattisgarh auctioned for commercial use. Adani Group mining Chhattisgarh was the preferred bidder for the third Jharkhand coal mine.
Adani Power Maharashtra charged a 9.5% premium above the floor price to the Gondkhari coke mine in Maharashtra. The same group company CG Naturals Resources Ltd was chosen as the preferred bidder to the Jhigador coal mine in Chhattisgarh. Sunflag Iron and Steel competed for the Gondkhari exploration mine, with a peak output of one million tonnes a year. The mine is home to geological resources of 98.71 million tonnes.
Auctions for commercial coal: Three out eight coal mines are of Adani
Adani Group Chhattisgarh entities have won three out of the eight mines, which went under the hammer in the second tranche of commercial coal mining auctions. Adani subsidiary CG Natural Resources took home the Khargaon Chhattisgarh coal mine for a 6% revenue share. It had also won Chhattisgarh’s Jhigador mine on Monday. Adani Power Maharashtra meanwhile had bagged the Gondkhari Block in Maharashtra on Monday.