Hindalco shares in focus after receiving Meenakshi Coal Mine allocation order with 12 MTPA capacity
Hindalco shares will remain in focus on Tuesday after the Aditya Birla Group’s metals flagship announced it has received a vesting order for the Meenakshi Coal Mine allocation in Odisha from the Ministry of Coal. This milestone follows the successful signing of the Coal Mine Development and Production Agreement (CMDPA) on November 22, 2024, marking a significant step in Hindalco’s efforts toward resource securitization, energy efficiency, and sustainable growth.
In a regulatory filing, the company stated that it expects coal production to commence in CY2028, subject to the receipt of regulatory clearances and requisite approvals.
The Meenakshi coal mine is a fully explored block with a Peak Rated Capacity (PRC) of 12 million tonnes per annum and approximately 285.23 million tonnes of geological reserves.
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“With a favourable coal-to-waste stripping ratio of less than 1, the G12 grade mine is poised to be a cost-effective and sustainable energy source for the company’s operations, making the company self-reliant in coal production,” the company said.
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