Centre completes auction of 9 coal mines, to yield Rs 1,446 crore annual revenue

The Ministry of Coal announced connected Wednesday that it has successfully auctioned 9 mines arsenic portion of the 10th circular of commercialized ember excavation auctions.

These mines are expected to make an yearly gross of astir Rs 1,446 crore (excluding partially explored mines), apt to pull a superior concern of astir Rs 2,115 crore, and make 19,063 employment opportunities, the ministry said.

The 9 mines clasp a combined geological reserve of astir 3,998.73 cardinal tonnes. The cumulative Peak Rated Capacity (PRC) of these mines stands astatine 14.10 MTPA, excluding partially explored ember mines, according to the Ministry statement.

While 3 of these ember mines are successful Jharkhand, determination are 2 each successful Odisha, Chhatisgarh, and Madhya Pradesh. The Ministry of Coal launched the 10th circular of ember excavation auctions for commercialized mining connected June 21, 2024.

In the guardant auctions, a full of 9 ember mines were successfully auctioned, comprising 3 afloat explored mines and six partially explored ember mines, the connection said.

The auctions witnessed aggravated competition, achieving an mean gross stock of 17.44 per cent. This reflects the sustained involvement of industries successful the ember assemblage and the Ministry's efforts to supply a unchangeable and transparent argumentation framework, the connection added.

Since the inception of commercialized ember mining successful 2020, a full of 113 ember mines person been auctioned successfully, with a accumulation capableness of 257.60 cardinal tonnes per year.

Upon operationalization, these mines volition immensely lend to enhancing home ember accumulation and successful making the state self-reliant successful the ember sector.

Collectively, these mines are expected to make yearly gross of Rs 35,437 crores, superior concern of Rs 38,641 crore and supply employment for 3,48,268 radical successful coal-bearing regions, the connection said.

"These strategical initiatives of the Ministry of Coal reaffirm the Ministry's dedication to transforming the ember assemblage into a cardinal operator of economical growth.

These initiatives not lone code the nation's vigor demands but besides foster economical stableness and make employment opportunities, contributing to the imaginativeness of an 'Atmanirbhar Bharat'," the connection added.