Prakash Industries Ltd Provides Update on Bhaskarpara Commercial Coal Mine

Prakash Industries Ltd has taken a significant step forward in the development of the Bhaskarpara Commercial Coal Mine in Chhattisgarh. Today, the company made a payment of Rs. 35.12 crores to the Office of the Collector, Janjgir-Champa, Chhattisgarh State Government. This payment is directed towards the premium for land that will be transferred to the Forest Department for Compensatory Afforestation, in lieu of forest land associated with the Bhaskarpara Commercial Coal Mine.

The project has already received In-principle Stage-I approval under the Forest (Conservation) Act, 1980, and Environmental Clearance (EC).

The development of the Bhaskarpara Commercial Coal Mine is progressing rapidly, and the company anticipates the execution of the Mining lease in the next quarter. The coal supplies from this mine are expected to bring stability to the company's Integrated Steel operations and result in significant cost reductions. Moreover, being a commercial mine, it is poised to enhance revenue and profitability through the sale of coal in the open market. This strategic move aligns with Prakash Industries Ltd's commitment to strengthening its position in the coal mining sector and optimizing operational efficiency.

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