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In the ongoing ninth round of commercial coal mine auctions, cement company ACC Ltd won the Lamatola coking coal block located in Madhya Pradesh on Thursday, according to an official release. ACC submitted the final bid, which offered a 16.75% premium over the reserve price of 4%.
"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 Coal Ministry held its most recent round of commercial coal mine auctions on December 20, 2023. A total of 32 coal mines were put on the block. The Lamatola coking coal mine located in Madhya Pradesh contains 200 million tonnes of coking coal reserves.
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