The Ministry of Coal has auctioned three mines under commercial auction on the second day of the e-auction.
Six coal mines were put up for auction of which three coal mines were Coal Mines (Special Provisions) coal mines and three coal mines were Mines and Minerals (Development and Regulation) coal mines. Five coal mines are fully explored and one is partially explored. The total geological reserves for these six coal mines are 488 million tonnes. Cumulative peak rate capacity (PRC) for these coal mines is 9.4 million tonnes per annuam (excluding partially explored coal mine). Upon operationalisation, these coal mines will generate annual revenue of around Rs 3.34 billion calculated at PRC of these coal mines (excluding Marwatola VI, Gare Palma Sector IV/2 and Gare Palma Sector IV/3 Coal Mines and partially explored Binja coal mine). These mines will attract capital investment of about Rs 14.1 billion.