Madhucon secures 3rd Indonesian coal mine

Indian firm Madhucon Projects Limited announced on Monday that its Indonesian unit PT Madhucon Indonesia has been granted a new coal mining business permit for coal exploration of 30,970 hectares in Muara Dua, South Sumatra.

The Company said it would employ various agencies for environmental impact analysis, coal exploration analysis and other necessary clearances. It is estimated that the clearances for upgrading IUP exploration to IUP exploration and production shall be obtained in the next 3 1/2 years to 4 years.

Madhucon is already operating coal mine at Dawas in South Sumatra of 10,000 hectares. The logistics including necessary infrastructure facilities are being set up. Coal production has just commenced and this coal mine is estimated to have a reserve of 900 million tonnes, the Company claimed.

Madhucon is also in possession of a coal mine in Indonesia in East Kalimantan under mining contract.

Madhucon, through its subsidiary is setting up 1,920 MW power plants in Andhra Pradesh in 4 phases. The second phase of 300 MW is in the final stage of financial closure. Coal for the power project would be sourced from Madhucon Indonesia. (alex)