11th Round of Coal Mine Auction: 12 coal mines auctioned, to generate Rs 3,330 crore revenue
The Ministry of Coal has effectively auctioned a total of 125 coal mines with a combined production capacity of 273.06 Million Tonnes since the beginning of commercial coal mining in 2020.
New Delhi: Twelve coal mines in all were successfully auctioned in the advance auctions—four partially explored mines and eight fully explored mines. On December 05, 2024, the Ministry of Coal started the 11th round of coal mine auctions for commercial mining, therefore marking yet another major turning point in India's path towards coal sector self-reliance.
With a combined Peak Rated Capacity (PRC) of 15.46 Million Tonnes Per Annum (MTPA), excluding partially explored mines, these twelve mines together have a geological reserve of around 5,509.23 million tonnes.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
Reflecting the Ministry's dedication to provide a consistent and open regulatory framework as well as the ongoing interest of sectors in India's coal business, the auctions saw fierce competitiveness and an exceptional average revenue share of 36.27%.
Apart from partially explored mines, the recently auctioned mines are expected to bring an annual income of Rs 3,330 crore and draw a capital investment of over Rs 2,319 crore.
Read Also : GAIL signed second Unilateral Advance Pricing Agreement with CBDTThe Ministry of Coal has effectively auctioned a total of 125 coal mines with a combined production capacity of 273.06 Million Tonnes since the beginning of commercial coal mining in 2020.
These mines taken together are estimated to bring an annual income of Rs 38,767 crore, draw a capital investment of Rs 40,960 crore, and create jobs for around 4,69,170 people.
Commercial coal mine production has demonstrated notable rise. Coal production in FY 23–24 was 12.55 MT; it has grown in FY 24–25 to 22.35 MT (to date), showing a 78.14% rise.
Read Also : Coal Ministry Honors NCL Two Officials for Excellence at workplace