Bharat Coking Coal Ltd. (BCCL) shares gained on Wednesday, May 27, after the company commenced commercial operations of its 2 MTPA Bhojudih Coal Washery on Tuesday, May 26. According to reports from CNBC TV18, the washery has been constructed under the build, operate and maintain model and is equipped with advanced technologies including heavy media cyclone, spiral concentrator and froth flotation for beneficiation of coking coal. The facility represents a three-product medium coking coal washery with a raw coal washing capacity of 20 lakh tonne per annum (2 MTPA).
The washery represents a three-product medium coking coal washery with a raw coal washing capacity of 20 lakh tonne per annum (2 MTPA). As reported by CNBC TV18, the facility will facilitate production of washed coking coal specifically for supply to the steel sector, marking a significant expansion in the company's processing capabilities. The project has been developed under a Build, Operate and Maintain (BOM) model, with the washery equipped with advanced coal beneficiation technologies including Heavy Media Cyclones, Spiral Concentrators and Froth Flotation systems aimed at improving the quality of coking coal supplied to industrial consumers.
Shares of Bharat Coking Coal are trading 3.2% higher on Wednesday at ₹39.8 following the announcement. According to CNBC TV18, the stock is nearing its post-listing high of ₹45.09, which represents nearly double from its issue price of ₹23 apiece, indicating strong investor confidence in the operational milestone. The facility will support the production of washed coking coal for the domestic steel industry, helping meet growing demand from the sector while enhancing the value of mined coal.
Despite the operational milestone, Bharat Coking Coal reported challenging financial results for the fourth quarter. As reported by CNBC TV18, the company experienced a 15% decline in topline and recorded an EBITDA loss of ₹335 crore compared to an EBITDA profit of ₹62 crore in the previous year, highlighting the mixed performance trajectory for the coal mining company. Investors nevertheless welcomed the operational milestone, with shares rising on the washery commissioning news.
