The Company is pleased to inform that the Government of Chhattisgarh had executed the
Mining Lease yesterday, which has been duly registered today in favour of the Company
for mining of coal over a period of 30 years for its Bhaskarpara Commercial Coal Mine in
District Surajpur. Now, the Company will start overburden removal by next month and
thereafter the coal extraction is expected to commence in the next quarter.
The supplies of coal from this mine shall provide stability to the Company’s Integrated
Steel operations as well as result in significant cost reductions. Additionally, this being a
commercial mine, it shall also boost the revenue and the profitability through sale of coal in
the open market.
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