Essar Energy Plc said it received provisional approval for forest clearance for its Mahan coal block in India's Madhya Pradesh state,bringing it a step closer to start mining operations at the site. Essar Energy,which recently changed its accounting period,also said its core earnings for the 15-month period ended March 31 was $737.1 million. For the 12 months ended Dec. 31,2010,the company reported core earnings of $697 million. Essar Energy's power business has been restricted by delays in securing clearances required for mining from captive coal mines adjacent to its Mahan and Tori power projects. Significant further progress is still required in a number of areas and we will be continuing our dialogue with both state and central government to try and ensure this momentum is not lost,Chief Executive Naresh Nayyar said in a statement. Stocks More on Essar Group Company INFO More on Essar Group
