Five Companies Win Coal Mines on Day One of Tenth Round Auction

22 Nov 2024 CW Team

On the first day of the tenth round of commercial coal mine auctions, five companies, including NLC India Ltd, ACC Ltd, and JSW Energy Utkal Ltd, successfully secured a total of five coal blocks. The auction, aimed at boosting commercial coal mining in India, was announced by the coal ministry in an official statement.

ACC Ltd won a coal mine located in Madhya Pradesh, while NLC India and JSW Energy Utkal Ltd each secured one block in Odisha. The other two companies that emerged victorious in the auction were Mineware Advisors Pvt Ltd and Shreeji Nuravi Coal Mining and Trading Pvt Ltd.

Key Details of the Auction A total of nine coal blocks were put up for sale in the tenth round, with five mines successfully auctioned on the first day. Among the blocks, one is fully explored, while the remaining four are partially explored. These five blocks together hold a total of 2,630.77 million tonnes of geological reserves, with a cumulative peak rated capacity of 12 million tonnes per annum (MTPA).

Economic Impact The operationalization of these five coal mines is expected to generate an annual revenue of Rs 11.07 billion and attract capital investments of Rs 18 billion. Additionally, the projects are set to create significant employment opportunities, providing jobs to 16,224 people.

The government had launched the auction process for these coal mines on June 21, with forward e-auctions for the nine blocks beginning on November 21. This auction is part of India's ongoing efforts to enhance the commercial mining sector and reduce dependence on imported coal.

These developments signal a strong push toward expanding the nation's coal production capacity, with positive implications for revenue, employment, and infrastructure investment.

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