NALCO to execute mining lease for Utkal-E coal block
National Aluminium Company Limited (NALCO), a leading producer of alumina and aluminium, has announced that it has been granted the mining lease of Utkal-E coal block.
Department of Steel & Mines, Government of Odisha has granted the lease via a notification issued on April 12. The mining lease Utkal-E coal block is spread over an area of 523.73 hectares in villages Nandichhod, Gopinathpur Jungle, Kundajhari Jungle, Kosala & Korada under Chhendipada Tehsil of Angul District. The initial capacity of the block is recorded to be 2 million tonnes per year with a total mineable reserve of approximately 70 million tonnes.
Previously, the company had executed the mining lease for Utkal-D coal block in March 2021. In the totality of the grant of Utkal D & E coal blocks, the total mineable coal reserve of the company will be at 175 million tonnes, which will play a crucial role in fulfilling the coal requirement of its captive power plant at Angul (Odisha). NALCO has obtained the lease for the Utkal –D & E blocks for 30 years. It will be capable of producing 4 million tonnes coal per year from the operations of these blocks.
National Aluminium Company Limited, abbreviated as NALCO, is a Navratna group ‘A’ CPSE, which has integrated & diversified operations in mining, metal, and power under Ministry of Mines, Government of India.
On Friday, the share of NALCO was trading at Rs 59.85, which is 3.1 per cent up on BSE.