Ministry of Coal auctions 29 coal mines under commercial coal mines auction

The Ministry of Coal has successfully auctioned 29 coal mines under the sixth round and second attempt of fifth round of auctions of coal mines for commercial mining.

Of the total, 22 coal mines are fully explored coal mines and 7 coal mines are partially explored coal mines. The total geological reserves for these 29 coal mines are 8,160 million tonnes (mt), while the cumulative peak rated capacity (PRC) for these coal mines is 74.96 mt per annum (mtpa) (excluding partially explored coal mines). The auctions witnessed an average revenue share of 22.12 per cent. It will generate annual revenue of Rs 146.50 billion (excluding partially explored coal mines) calculated at PRC of these coal mines, and will attract capital investment of approximately Rs 112.50 billion. The monetised value of these mines is Rs 711.92 billion, exceeding the target set by Ministry of Finance. Upon operationalisation, these mines will contribute to more than 7 per cent of the country’s coal requirement.