Sarda Energy gets Indonesia's approval for coal mining

MUMBAI (makemystocks): Sarda Energy & Minerals Ltd (BOM: 504614) announced that the authorities in Indonesia have granted the environment clearance for the coal mines and accordingly mining licence has been issued for mining of coal. The shares of the company rose to 0.99 per cent from the previous close, on the Bombay Stock Exchange (BSE).

This is in reference with its earlier announcement wherein Sarda Energy informed it has, through its wholly owned subsidiary based in Singapore, entered into long term arrangement to buy coal originating from mines in Indonesia with a provision for sharing of economic benefits.

The company also announced that the authorities in Indonesia have granted the Environment Clearance for the coal mines and accordingly Mining Licence has been issued for mining of coal.