Coal Mines Auctioned in 10th Round.
The Ministry of Coal has recently launched the auction of coal mines for commercial mining under the 10th round on June 21, 2024. After evaluating the bids, forward e-auctions for nine mines began on November 21, 2024.
On the first day of the auction, a total of five coal mines were put up for bidding. Among these, one coal mine is fully explored, while the remaining four are partially explored. The combined geological reserves for these five coal mines are estimated to be 2,630.77 Million Tonnes. The Cumulative Peak Rated Capacity (PRC) for these mines is 12.00 MTPA.
The results of the first day of the auction are as follows:
1. Marwatola South: This coal mine is located in Madhya Pradesh and has no specified PRC. It has geological reserves of 126.300 MT. The closing bid was submitted by Mineware Advisors Private Limited, with a reserve price of 4.00% and a final offer of 22.25%.
2. New Patrapara South: This coal mine is located in Odisha and has a PRC of 12.00 MTPA. It has geological reserves of 720.870 MT. The closing bid was submitted by NLC India Limited, with a reserve price of 4.00% and a final offer of 5.50%.
3. Sarai East (South): This coal mine is also located in Madhya Pradesh and has no specified PRC. It has geological reserves of 128.600 MT. The closing bid was submitted by ACC Limited, with a reserve price of 4.00% and a final offer of 5.50%.
4. Gawa (East): This coal mine is located in Jharkhand and has no specified PRC. It has geological reserves of 55.000 MT. The closing bid was submitted by Shreeji Nuravi Coal Mining and Trading Private Limited, with a reserve price of 4.00% and a final offer of 7.00%.
5. Bartap (Revised): This coal mine is located in Odisha and has no specified PRC. It has geological reserves of 1600.00 MT. The closing bid was submitted by JSW Energy Utkal Limited, with a reserve price of 4.00% and a final offer of 8.50%.
These coal mines, once operational, are projected to generate an annual revenue of approximately Rs. 1106.91 crores, calculated at the PRC of these coal mines (excluding the partially explored mines). The development of these mines will attract a capital investment of around Rs. 1800.00 crores and create employment opportunities for approximately 16,224 individuals.
This marks a significant step in the commercial mining of coal and is expected to contribute to the growth of the coal industry in India.
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