National Aluminium Company Ltd (Nalco) on Friday said it has been granted the mining lease of Utkal-E coal block in Odisha. The lease has been granted by the Department of Steel & Mines, Government of Odisha, through a notification issued on April 12. As per the notification, the mining lease of Utkal-E coal block is over an area of 523.73 hectare, the company said in a filing to BSE. The initial capacity of the block is 2 million tonnes per year with a total mineable reserve of approximately 70 million tonne.
Nalco has already executed the mining lease for Utkal-D coal block in March 2021. With the grant of Utkal D & E coal blocks, the total mineable coal reserve of the company will be 175 million tonnes, which will be pivotal in meeting the coal requirement of its captive power plant at Angul, Odisha.
Nalco board approves Rs 749 crore share buyback plan
The navratna CPSE under the Ministry of Mines said that the public announcement setting out the process, timelines and other requisite details will be released in due course in accordance with the buyback regulations. PTI
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State-owned National Aluminium Company Ltd (Nalco) on Thursday approved buyback of 13.02 crore shares for about Rs 749.10 crore. The board of directors of the company in their meeting held on January 27, 2021, has inter-alia approved.buyback of not exceeding 13,02,79,083 (Thirteen Crore Two Lakh Seventy Nine Thousand Eighty-Three) fully paid-up equity shares..at a price of Rs 57.50 per equity share.in cash for an aggregate consideration not exceeding Rs 749,10,47,273 (Rupees Seven Hundred Forty-Nine Crore Ten Lakh Forty-Seven Thousand Two Hundred Seventy Three only, Nalco said in a BSE filing.