Hindalco Industries Limited — Updates, 30-12-2024: Press Release

Hindalco Industries has secured the Meenakshi Coal Mine allocation in Odisha, a crucial development aimed at enhancing resource security and cost efficiency. Following the signing of the Coal Mine Development and Production Agreement, the mine features a Peak Rated Capacity of 12 million tonnes per annum and geological reserves of approximately 285.23 million tonnes. This G12 grade mine is expected to significantly reduce operational costs, as its coal will replace more expensive auction and linkage coal, currently around 40% costlier.

The allocation not only strengthens Hindalco's self-reliance in coal production but also has broader implications for India’s energy security, fostering economic growth in the region. The project promises to generate about 16,000 direct and indirect jobs, contributing to local community development. Hindalco plans to commence coal production by CY2028, contingent upon regulatory approvals, aligning with its vision for sustainable practices and industrial progress.