Board of Lloyds Metals Energy decides to participate in coal mines auction

23 Nov 2022 , 01:34 AM

The Board of Lloyds Metals Energy at its meeting held on 15 November 2022 has decided to take part in the coal auction mines of the Government of India as conducted by the Ministry of Coal The auctions have terms and conditions allowing new companies to participate in the bidding process reduced upfront amount adjustment of upfront amount against royalty liberal efficiency parameters to encourage flexibility to operationalize the coal mines To participate in this auction the Company will have to alter amend its Main Object Clause of its Memorandum of Association of the Company The mines will be bid as a merchant mines but also intended to make Company self sufficient in coal