5 Coal Mines put up for Auction on Day One
Published: Nov 22, 2024
By TIOLCorplaws News Service
NEW DELHI, NOV 21, 2024: MINISTRY of Coal had launched the auction of coal mines for commercial mining under 10 th round on June 21, 2024. After evaluation of bids, forward e-auctions for nine mines commenced from 21.11.2024.
On the First day, 5 coal mines were put up for auction. One of the five coal mine is fully explored coal mine while 4 coal mines are partially explored coal mines. The total geological reserves for these 5 coal mines are 2,630.77 Million Tonnes. Cumulative Peak Rated Capacity (PRC) for these coal mines is 12.00 MTPA.
The results for Day 1 are as under:
|
S. No.
|
Name of the Mine
|
State
|
PRC (mtpa)
|
Geological Reserves (MT)
|
Closing Bid Submitted by
|
Reserve Price (%)
|
Final Offer (%)
|
| 1 | Marwatola South | Madhya Pradesh | NA | 126.300 | Mineware Advisors Private Limited | 4.00 | 22.25 |
| 2 | New Patrapara South | Odisha | 12.00 | 720.870 | NLC India Limited | 4.00 | 5.50 |
| 3 | Sarai East (South) | Madhya Pradesh | NA | 128.600 | ACC Limited | 4.00 | 5.50 |
| 4 | Gawa (East) | Jharkhand | NA | 55.000 | Shreeji Nuravi Coal Mining and Trading Private Limited | 4.00 | 7.00 |
| 5 | Bartap (Revised) | Odisha | NA | 1600.00 | JSW Energy Utkal Limited | 4.00 | 8.50 |
These coal mines upon operationalization will generate Annual Revenue of ~Rs. 1106.91 crores calculated at PRC of these coal mines (excluding Partially Explored coal mines). These mines will attract capital investment of ~Rs. 1800.00 crores and will provide employment to ~ 16,224 people.
