9 Mines successfully auctioned in 10th Round
Published: Nov 28, 2024
By TIOLCorplaws News Service
NEW DELHI, NOV 28, 2024: THE Ministry of Coal launched the 10th round of coal mine auctions for commercial mining on June 21, 2024. In the forward auctions, a total of nine coal mines were successfully auctioned, comprising three fully explored mines and six partially explored coal mines. These nine mines hold a combined geological reserve of approximately 3,998.73 million tonnes. The cumulative Peak Rated Capacity (PRC) of these mines stands at 14.10 MTPA, excluding partially explored coal mines.
The mine-wise result for auctions held is as under:
|
S. No. |
Name of the Mine |
State |
PRC (mtpa) |
Geological Reserves (MT) |
Closing Bid Submitted by |
Reserve Price (%) |
Final Offer (%) |
Coking/Non-Coking |
|
1 |
Bundu |
Jharkhand |
1.00 |
102.268 |
S M Steels and Powver Limited |
4.00 |
16.75 |
Non-Coking |
|
2 |
Gare Palma IV/5 |
Chhattisgarh |
1.10 |
77.990 |
Sarda Energy and Minerals Limited |
4.00 |
25.75 |
Non-Coking |
|
3 |
Kerendari-BC North |
Jharkhand |
NA |
600.000 |
Orissa Alloy Steel Private Limited |
4.00 |
23.25 |
Non-Coking |
|
4 |
Marwatola South |
Madhya Pradesh |
NA |
126.300 |
Mineware Advisors Private Limited |
4.00 |
22.25 |
Non-Coking |
|
5 |
New Patrapara South |
Odisha |
12.00 |
720.870 |
NLC India Limited |
4.00 |
5.50 |
Non-Coking |
|
6 |
Sarai East (South) |
Madhya Pradesh |
NA |
128.600 |
ACC Limited |
4.00 |
5.50 |
Non-Coking |
|
7 |
Ulia Gamhardih |
Chhattisgarh |
NA |
587.700 |
S M Steels and Powver Limited |
4.00 |
42.50 |
Non-Coking |
|
8 |
Gawa (East) |
Jharkhand |
NA |
55.000 |
Shreeji Nuravi Coal Mining and Trading Private Limited |
4.00 |
7.00 |
Non-Coking |
|
9 |
Bartap(Revised) |
Odisha |
NA |
1,600.000 |
JSW Energy Utkal Limited |
4.00 |
8.50 |
Non-Coking |
The auctions witnessed intense competition, achieving an average revenue share of 17.44%. This reflects the sustained interest of industries in the coal sector and the Ministry's efforts to provide a stable and transparent policy framework. These mines are expected to generate an annual revenue of ~Rs.1,446 crore (excluding partially explored mines), likely to attract a capital investment of around Rs.2,115 crore, and create 19,063 employment opportunities.
Since the inception of commercial coal mining in 2020, a total of 113 coal mines have been auctioned successfully, with a production capacity of 257.60 Million Tonnes per year. Upon operationalization, these mines will immensely contribute to enhance domestic coal production and in making country self-reliant in coal sector. Collectively, these mines are expected to generate annual revenue of Rs 35,437 crores, capital investment of Rs 38,641 Crores and provide employment for 3,48,268 people in coal-bearing regions.
These strategic initiatives of the Ministry of Coal reaffirm the Ministry's dedication to transforming the coal sector into a key driver of economic growth. These initiatives not only address the nation's energy demands but also foster economic stability and create employment opportunities, contributing to the vision of an 'Atmanirbhar Bharat.
