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In its 2010 annual report Essar Energy stated that it:
- "acquired ERMML from Essar Minerals Limited, its fellow subsidiary within the EGL group, in April 2010 for a cash consideration of US$29.9 million. The transaction was deemed to be at arm’s length. ERMML holds a coal licence in the Cambulatsitsi, Mozambique and the mine is estimated to have coal resources of approximately 35 mmt. Essar Energy has accounted for the above transaction as an asset acquisition with the total consideration being included as an addition in the period within property, plant and equipment."
Export to India plan
In 2011 Essar Energy's website stated that it planned for coal from the company's "captive coal mines in Indonesia and Mozambique" to be used for stages 1 & 2 of its own 3,000MW Salaya power plant in Gujarat, India. Essar's only coal project in Mozambique is the Cambulatsitsi mine.` However, as of June 2013, the company now no longer mentions Mozambique as a supplier for the power station.