India: Following the start of India's coal mine auction on 14 February 2015, in which Reliance Cement won the Sial Ghoghri mine in Madhya Pradesh for US$22.5/t, more mines have now been sold.
On the second day of the auction, 15 February 2015, Reliance Cement lost out on a mine in Maharashtra to Sunflag Iron and Steel, which bid US$28.7/t. Similarly, Aditya Birla Group's Hindalco Industries, which bid US$45.9/t for the Kathautia mine in Jharkhand, beat UltraTech Cement. The mine has 26Mt of coal reserves.
On the third day of the auction, 16 February 2015, Jaiprakash Associates won the Mandla North mine, which has 143Mt of extractable coal reserves, for US$40.3/t. UltraTech Cement and Hindalco Ltd had also placed bids for the mine. B S Ispat won the Marki Mangli III mine in Maharashtra for US$14.7/t, beating several rivals, including JSW Cement. The mine has 4.2Mt of extractable reserves.
