Coal India (CIL) has bagged the first critical mineral asset, a graphite block, in Madhya Pradesh. Owning a graphite asset will give Coal India an advantage in powering green energy transition momentum to an extent.
The company has successfully opened its account in domestic critical mineral asset emerging as the preferred bidder for Khattali Chotti graphite block in Alirajpur district of Madhya Pradesh. The company accounts for more than 80 per cent of domestic coal output.
With the bagging of this mine, Coal India has made its foray into the first-ever non-coal mineral mining venture. This was under tranche two forward auction held on July 09 by the Ministry of Mines. The company won the bid quoting a mining premium of 150.05 per cent of the value of mineral despatch, which it would pay to the state.
The company will formally receive the letter of intent once it deposits performance security. Further, a composite license will be issued to CIL in a year after the company meets the formalities under the notice inviting tender timeline. The block was put for sale in the second tranche of the critical mine auction. The company under its diversification portfolio won the bid. With this, CIL is poised to play a supporting role in critical minerals domestically.
Coal India (CIL) is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
| Company Name | CMP |
|---|---|
| Coal India | 388.40 |
| NMDC | 214.15 |
| GMDC | 327.20 |
| MOIL | 333.25 |
| Sandur Manganese | 414.55 |
| View more.. | |
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