NLCIL secures third Commercial Coal Mine of New Patrapara South at Angul, Odisha
Subsequently, a Vesting Order was issued by the Additional Secretary of Coal (Nominated Authority), Government of India, to NLC India Limited during a ceremony held on February 4, 2025, at Shastri Bhavan, New Delhi.
NLCIL secures third Commercial Coal Mine of New Patrapara South at Angul, Odisha
NLC India Limited, under the PSU Stock, has successfully secured the New Patrapara South Coal Mine in the Angul District of Odisha. This follows the commercial coal block e-auction conducted by the Ministry of Coal on November 21, 2024.
A Coal Mine Development and Production Agreement (CMDPA) was signed by NLCIL with the Nominated Authority of the Ministry of Coal on December 5, 2024.
Subsequently, a Vesting Order was issued by the Additional Secretary of Coal (Nominated Authority), Government of India, to NLC India Limited during a ceremony held on February 4, 2025, at Shastri Bhavan, New Delhi.
The coal mine block has an estimated total geological reserve of approximately 720.87 million tonnes and a peak-rated capacity of 12 million tonnes per annum. This marks the third commercial coal mine for NLCIL, and the company has surpassed its commitment of 100 million tonnes of mining capacity in line with its Corporate Plan for 2030.
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Earlier, the company's board also approved an investment of Rs 11.1 bn in a joint venture with Rajasthan Rajya Vidyut Utpadan Nigam. This investment is aimed at developing lignite-based thermal power stations and lignite mines in Rajasthan. So far for the first nine months of FY25, the company has incurred a capex of Rs 52.5 bn.
Additionally, the company board has declared a dividend of Rs 1.5 per share for FY25, with 7 February 2025 set as the record date and payment due by 4 March 2025.
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