Mining power supply The Gujarat Mineral Development Corporation (GMDC) announced on Monday that it was the highest bidder in the recently concluded commercial mine auction for two coal blocks in Odisha.
The PSU was successful in its bids for the Burapahar block, which has a geological reserve of 548 million tonnes (MT), and the Baitarani (West) block, which has a geological reserve of 1,152 MT.
With this development, GMDC’s additional 21 million tonne per annum (MTPA) capacity will help meet the country’s energy demand, the PSU said in a statement.
“We are committed to utilising our resources and expertise to develop these blocks to their fullest potential while ensuring the highest standards of safety and environmental sustainability,” GMDC Managing Director Roopwant Singh said in a statement.
According to GMDC, this expansion will allow the PSU to expand beyond the geographical boundaries of Gujarat.
The state-owned company operates five lignite mines in Kutch, South Gujarat, and the Bhavnagar region. GMDC is the country’s largest merchant seller of lignite.
On the BSE, GMDC shares fell 1.68 percent to Rs 140.05.