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Thirteen coal mines Including 5 coking coal mines auctioned in forward auction
Image Credit: Pixabay

Thirteen coal mines Including 5 coking coal mines auctioned in forward auction

| @indiablooms | 16 Mar 2024, 11:47 am

New Delhi: The government has auctioned a total of 13 coal mines during the current week.

Ministry of Coal had launched the auctions of coal mines for commercial mining under the 8th round on November 15, 2023, and the 9th round on December 20, 2023.

Out of the 13 auctioned mines, four coal mines are fully explored coal mines and 9 mines are partially explored coal mines. The total geological reserves for these 13 coal mines are nearly 2569.76 Million Tonnes.

Cumulative PRC for these coal mines is 4.2 MTPA (excluding partially explored coal mines).

The auctions witnessed strong competition with an average revenue share of 25.96%.

These mines will contribute to Annual Revenue generation of nearly 652 crores (excluding Partially Explored coal mines) and capital investment of approximately Rs 630 crore and employment generation for 5,678 people.

This round also witnessed the auctioning of five coking coal mines which is the major importing coal in the country.

These coking mines once operationalized will reduce the dependency of the country on imported coking coal.

Since, the launch of commercial coal mines since 2020, a total of 104 coal mines have been successfully auctioned having a production capacity of 226 Million Ton per year.

After operationalization, these mines will immensely contribute to enhancing the domestic production of coal.

These mines are expected to generate annual revenue of Rs 33,738 crores, capital investment of Rs 33,930 crores and will generate employment for 3,05,815 persons in coal-bearing area.

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