Economy - Reports
Nine mines successfully auctioned in 10th round of commercial coal mine auctions As on : 27-Nov-24  12:14

The Ministry of Coal launched the 10th round of coal mine auctions for commercial mining on June 21, 2024. In the forward auctions, a total of nine coal mines were successfully auctioned, comprising three fully explored mines and six partially explored coal mines. These nine mines hold a combined geological reserve of approximately 3,998.73 million tonnes. The cumulative Peak Rated Capacity (PRC) of these mines stands at 14.10 MTPA, excluding partially explored coal mines.

The auctions witnessed intense competition, achieving an average revenue share of 17.44%. This reflects the sustained interest of industries in the coal sector and the Ministry's efforts to provide a stable and transparent policy framework. These mines are expected to generate an annual revenue of ~₹1,446 crore (excluding partially explored mines), likely to attract a capital investment of around ₹2,115 crore, and create 19,063 employment opportunities.

Since the inception of commercial coal mining in 2020, a total of 113 coal mines have been auctioned successfully, with a production capacity of 257.60 Million Tonnes per year. Upon operationalization, these mines will immensely contribute to enhance domestic coal production and in making country self-reliant in coal sector. Collectively, these mines are expected to generate annual revenue of Rs 35,437 crores, capital investment of Rs 38,641 Crores and provide employment for 3,48,268 people in coal-bearing regions.

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