Monnet said that this acquisition gives it access to one of the largest thermal coal mine spreading over an area of 25,000 hectares, of which about 1,500 hectares have been explored.
The company has been able to establish 65 million tonne of coal reserves in the mines and expects these reserves to go up substantially after completing exploration of the whole area.
Monnet Group executive vice chairman and managing director Sandeep Jajodia said that the company plans to mine more coal than required for its captive needs and also for selling in the open market which will be a long term source of revenue for the company.
