In March the FT reported that the oil refiner and power plant operator was awaiting government go-ahead to develop its Mahan, Chakla and Ashok Karkata mines.
Yesterday news came that shares in Essar Energy fell sharply after the London-listed company conceded that India’s government will not grant official permission for a coal mine in time to supply a polluting new power station.
Though two power stations are now under construction – Mahan 1 and Tori – the Indian government has not given Essar Energy the deforestation permits needed to develop these coal reserves, which lie beneath dense rainforest.
The tip of the iceberg
A Google search will reveal more news about the activities of the Essar conglomerate, including a report that a subsidiary of Essar has been expanding mountain top removals in West Virginia USA, pictured below: