Prakash Industries Ltd announced that it has finalized a 30-year mining lease for the Bhaskarpara commercial coal mine in Surajpur district, Chhattisgarh. The lease, executed by the state government on November 21, 2024, was officially registered the following day, granting the company rights to mine coal at the site.
The company plans to begin operations with overburden removal next month, followed by coal extraction in the next quarter. The coal from Bhaskarpara will support Prakash Industries’ integrated steel operations by ensuring a reliable supply and lowering production costs.
As a commercial mine, it is also expected to generate additional revenue and improve profitability through open-market coal sales. The company stated, “Coal supplies from this mine will provide stability to our integrated steel operations and result in substantial cost savings. Additionally, being a commercial mine, it will boost revenue and profitability through coal sales in the open market.”
Prakash Industries Ltd is a prominent player in India’s steel and energy sectors, known for its integrated operations in steel production, power generation, and mining. Headquartered in Chhattisgarh, the company manufactures a wide range of steel products, including long products, and is involved in the production of sponge iron, billets, and other critical raw materials.
Prakash Industries also operates a significant coal mining business, ensuring a stable supply of raw materials for its steel operations. With a focus on vertical integration, the company strives to reduce costs and improve efficiency in its operations. It is committed to sustainability and has invested in technologies that reduce its environmental impact. Through its strong market presence and diverse portfolio, Prakash Industries continues to contribute to India’s industrial growth and infrastructure development.
