Vedanta Limited has been awarded the Kuraloi (A) North coal block, located in Jharsuguda district, Odisha. On Wednesday, Vedanta stock was trading on a positive note.
As per the regulatory filing, the coal block is an optimal fit for the company’s Jharsuguda smelter given its logistical location and annual capacity.
Vedanta said that the mine has geological reserves of 1,680 million tonnes and an estimated per annum capacity of 8 million tonnes. Once operational, it will provide fuel security, improve power availability and further strengthen the company’s aluminium operations and performance.
At around 11.32 am, Vedanta was trading at Rs253.95 per piece up by 0.6% on Sensex. The stock was near the day's high of Rs256.85 per piece in the early deals.