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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.

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