Commercial coal mining is attracting new players with Fairmine Carbons bagging a block in Jharkhand and Chowgule and Company emerging as the highest bidder for another mine in Madhya Pradesh.
Fairmine Carbons was the highest bidder for the Rajhara North (Central and Eastern) block in Jharkhand, offering 23 per cent revenue sharing. The firm pipped Adani Enterprises and two others to bag the mine.
The Ranchi-based company was formed in July 2020 and is involved in the manufacturing of coke, refined petroleum products and nuclear fuel, according to reports.
For the Shahpur East block in Madhya Pradesh having geological reserves of 63.36 million tonnes, Chowgule and Company made a final bid offer of 41 per cent revenue share. Chowgule is a Goa-based shipyard company. JMS Mining Pvt Ltd and Sarda Energy & Minerals Ltd were in the race for the block.
