13 JUNE 2016indianexpress.com
Vedanta may bid for coal mines to ensure fuel security for its aluminium plants
Edited by : AL CIRCLE
1 min read
Vedanta is planning to acquire coal mines via auctions as the mining conglomerate seeks to ensure fuel security for its energy guzzling aluminium plants.
“Numerous initiatives are being taken to meet our coal requirements. We will source our overall coal mix from low-cost imports and auctioned coal to optimise the cost in FY 2016-17. We are also looking to optimise our coal mix further by securing linkage coal through the auction route,” Vedanta Resources said.
The government has not yet finalised the dates for holding the fourth round of coal mine auctions, which was annulled in December 2015.
“Numerous initiatives are being taken to meet our coal requirements. We will source our overall coal mix from low-cost imports and auctioned coal to optimise the cost in FY 2016-17. We are also looking to optimise our coal mix further by securing linkage coal through the auction route,” Vedanta Resources said.
The government has not yet finalised the dates for holding the fourth round of coal mine auctions, which was annulled in December 2015.
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