JSW Steel terminates Banai & Bhalumuda Coal Block development and production agreement

In March 2023, JSW Steel had been declared as a Preferred Bidder in respect of the auction of Banai & Bhalumuda Coal Block in Mand-Raigarh, upon acquisition and detailed feasibility study, this mine was not found suitable from a techno-commercial perspective for JSW Steel and hence the company decided not to go ahead with the investment to develop the Coal Block.

Subsequently, the Coal Block Development and Production Agreement entered into by the company in respect of the said Block has been terminated by the Nomination Authority, Ministry of Coal, vide Order dated 07 November 2024.

Powered by Capital Market - Live News