Coal Ministry Successfully Auctions More Mines Under Commercial Auction Today
Posted On: 28 FEB 2023, Delhi
Ministry of Coal had launched the auctions of coal mines for commercial mining under 6th round and second attempt of 5th round on November 03, 2022. Forward auctions for these mines have been started on 27.02.2023 and on the 2nd day of the e-auction, 6 coal mines were put up for auction of which 3 coal mines were CMSP coal mines and 3 coal mines were MMDR coal mines. Further details of the coal mines are as under: –
- 5 coal mines are fully explored coal mines and 1 coal mine is partially explored coal mine;
- The total geological reserves for these 6 coal mines are ~ 488 Million Tonnes.
- Cumulative PRC for these coal mines is 9.4 MTPA (excluding Partially Explored Binja Coal Mine)
The results for Day 2 are as under:
| S. No. | Name of the Mine | State | PRC (MTPA) | Geological Reserves (MT) | Closing Bid Submitted by | Floor Price (%) | Final Offer (%) |
| 1 | Binja | Jharkhand | NA | 50.00 | Assam Mineral Development Corporation Limited | 4.00% | 21.25% |
| 2 | Burakhap Small Patch | Jharkhand | 0.40 | 9.68 | Shreesatya Mines Private Limited | 4.00% | 45.50% |
| 3 | Dahegaon Gowari | Maharashtra | 0.50 | 162.79 | Ambuja Cements Limited | 4.00% | 5.50% |
| 4-5 | Gare Palma Sector IV/2 and Gare Palma Sector IV/3 | Chhattisgarh | 7.00 | 186.86 | E-auction going on | ||
| 6 | Marwatola VI | Madhya Pradesh | 1.50 | 78.99 | E-auction going on |
.*For Marwatola VI, Gare Palma Sector IV/2 and Gare Palma Sector IV/3 coal mines, the e-auction process was going on.
These coal mines upon operationalization will generate Annual Revenue of ~Rs. 334 crores 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 ~Rs. 1,410 crores and will provide employment to ~12,709 people.
