India's Vedanta Ltd and Hindalco Industries Ltd were among the first private companies chosen to operate coal mines in the country without end-use restrictions, the government said on Monday. The world's second largest consumer of coal, India allocated 38 coal mines for auction to the private sector, offering financial incentives to attract investment and reduce imports. The auctions are conducted in two stages, the first of which is the submission of a technical bid, evaluated by the coal ministry.
India's Hindalco Industries Ltd <HALC.NS> on Thursday signed an agreement with UltraTech Cement Ltd <ULTC.NS> to supply 1.2 million tonnes of bauxite residue every year to be used as a raw material for cement, as part of its push for alternative methods of disposing of the toxic waste. Hindalco, India's top aluminium and copper producer, said it would supply 2.5 million tonnes of bauxite residue, also known as red mud, to 40 cement companies this year, to help cement makers to replace their existing raw materials such as laterite, a mineral. Of the 2.5 million tonnes, 1.2 million tonnes would go to UltraTech's 14 cement plants spread across seven states.