Kolkata, Oct 13 Shyam Metalics Group has secured strategic mining rights for the Phutamura coal block in Chhattisgarh through its investment in Alom Solar Private Limited, the successful bidder for the block, the company said on Tuesday.
Located in the Mand Raigarh coalfield in Raigarh district, the block covers around 7.32 sq km and has estimated coal reserves of about 170 million tonnes, it said in a statement.
Mining operations and coal production are expected to begin in July 2027, according to the company.
The investment is part of the group’s backward integration strategy to ensure a stable, long-term and cost-effective coal supply for its captive power generation and steel manufacturing operations, it said.
Access to the reserves is expected to strengthen raw material security, improve operational self-sufficiency and reduce dependence on external coal supplies, the company said.
The investment also underscores the group’s focus on sustainable growth and long-term value creation for stakeholders, it added.
(PTI News)
