Ministry of Coal auctions two mines on third day of commercial auction

The Ministry of Coal has auctioned two mines under commercial auction on the third day of the e-auction.

Of the two mines, one coal mine was Coal Mines (Special Provisions) and other one was Mines and Minerals (Development and Regulation). One coal mine is fully explored and one is partially explored. The total geological reserves for these two coal mines are 125 million tonnes (mt). Cumulative peak rate capacity (PRC) for these coal mines is 0.2 mt per annuam (excluding partially explored Arjuni (Western Part) coal mine). Upon operationalisation, these coal mines will generate annual revenue of around Rs 1.73 billion calculated at PRC of these coal mines (excluding partially explored Arjuni (Western Part) coal mine). These mines will attract capital investment of about Rs 300 million.