Team News Riveting
Raipur, January 27
A consortium led by Sarda Energy and Minerals Limited (SEML) has emerged as successful bidder to operate a coal mine of South Eastern Coalfields Limited (SECL) in Korea district of Chhattisgarh
“We are pleased to inform that the South Eastern Coalfields Ltd. [SECL] has issued Letter of Acceptance [LOA] to a consortium, in which the Company has 67 per cent share, for re-opening, salvaging, rehabilitation, development and operation of Bartunga Hill high grade Coal mine on 18 per cent revenue to be shared with SECL,” SEML said in a regulatory filing today.
The mine shall be operated through an SPV to be incorporated for the purpose, the flagship entity of Sarda Group, added. The necessary agreements shall be executed in due course as per the terms of the LOA, the company said.
Bartunga Hill coal mine is operated by SECL, a Chhattisgarh-based subsidiary of Coal India Limited (CIL), in Chirimiri, Tehsil Khadgaon of Korea district. The mine is part of the Chirimiri coal mines network
The capacity of the mine is 2 million tonnes per annum. It has reserves of 362 million tonne (MT) (320 MT measured, 11 MT indicated, 31 MT inferred. The method of mining will be underground.
