9 coal mines auctioned, Rs 14.46 billion revenue, 19,000 jobs expected

02 Dec 2024 CW Team

The Ministry of Coal has successfully auctioned nine coal mines in the 10th round of commercial mining auctions, securing a combined geological reserve of 3,998.73 million tonnes. The forward auction, featuring three fully explored and six partially explored mines, achieved an average revenue share of 17.44%, showcasing robust industrial interest. The fully explored mines have a combined Peak Rated Capacity (PRC) of 14.10 million tonnes per annum (MTPA) and are projected to generate annual revenues of Rs 14.46 billion, attract capital investments of Rs 21.15 billion, and create 19,063 jobs, excluding partially explored mines. Key mines were auctioned across states like Jharkhand, Chhattisgarh, Madhya Pradesh, and Odisha. Notable bidders included S M Steels and Power Limited, NLC India Limited, and JSW Energy Utkal Limited. Among the mines, Ulia Gamhardih in Chhattisgarh received the highest bid with a 42.50% revenue share, followed by Gare Palma IV/5 at 25.75% and Kerendari-BC North at 23.25%. Since the launch of commercial coal mining in 2020, 113 mines with a total production capacity of 257.60 MTPA have been auctioned. These are expected to generate annual revenues of Rs 354.37 billion, attract investments of Rs 386.41 billion, and create 348,000 jobs, significantly contributing to India's coal self-reliance. The ministry reiterated its commitment to boosting domestic coal production, reducing imports, and advancing the government’s vision of an Atmanirbhar Bharat. (ET)

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