Anil’s Reliance Cement bags coal mine in first auction
The maiden auction of coal mines got under way on Saturday, with Anil Ambani-led Reliance Cement bagging the first mine through e-bidding for `798 crore. Reliance Cement beat Hindustan Zinc Ltd (HZL) and OCL Iron & Steel to bag the Sial Ghoghri coal mine in Chhidwara district of Madhya Pradesh. The mine has total reserves of 29.38 million tonnes and extractable reserves of 5.69 mt. The company bid Rs 1,402 per tonne to get the mine. The block was alloted to Prism Cement earlier. The mine is earmarked for the non-power sector.