Five coal mines bid out on the first day of auctions

The auction for coal mines for commercial mines began on November 2, 2020 with five coal mines bid out on the first day.

Vedanta Limited emerged as the highest bidder for a coal block in Odisha (Radhikapur West coal mine with 312 million tonnes) offering a premium of 21 per cent while Hindalco Industries placed a winning bid for another coal block in Jharkhand offering 14.25 per cent premium (Chakla mine with 76.05 million tonnes). JMS Mining Private Limited has placed the highest bid for the Urtan mine in Madhya Pradesh with 55.391 million tonne reserves at 10.50 per cent. For Takli Jena Bellora North and Takli Jena Bellora South block in Maharashtra, Aurobindo Realty and Infrastructure Ltd. made the highest bid of 30.75 per cent revenue sharing. The total annual revenue estimated to be generated to states from the coal blocks is Rs 15.57 billion.