JSW Steel to not invest in Banai & Bhalumuda Coal Block after winning bid

JSW Steel on Friday announced that it will not go ahead with the investment in Banai & Bhalumuda Coal Block in Mand-Raigarh, which it had secured in an auction March 2023.

The company, in an exchange filing, said that the the mine was not found suitable from a techno-commercial perspective for company and hence decided not to go ahead with the investment to develop the Coal Block.

The deal was terminated by the Nomination Authority, Ministry of Coal on Thursday.


On March 29, 2023, the company had announced that it had won the bids for coal mines in Chhattisgarh & Jharkhand, held under 6th Tranche, 15th Tranche and 16th Tranche of Auction. The Banai & Bhalumuda Coal Block was projected to produced 1376.057 million tonnes of coal for the company.