Coal Mines

The government will put on the block 106 coal mines on Wednesday, launching the seventh round of commercial auctions, an official statement said. In the statement, the coal ministry said it will also be signing the agreements for the 28 coal mines auctioned under the sixth round of auctions, it said. "The Ministry of Coal will be signing the agreements for 28 coal mines auctioned under the sixth round and launching the seventh round of auction of mines for sale of coal on March 29, 2023," the statement said. The cumulative PRC (peak rated capacity) of the 28 coal mines auctioned under previous round is 74 million tonne per annum (MTPA) and these mines are expected to generate annual revenue of Rs 14,497 crore calculated at PRC of these coal mines. Upon operationalisation, these mines are expected to generate employment for one lakh people, the ministry said. Of the 106 coal mines offered under seventh round, 61 mines are partially explored coal mines and 45 are fully explored ones.

The coal ministry on Wednesday said that 27 coal mines would be put on sale in the next round of commercial mines auction starting from February 27. The auction process for 141 coal and lignite mines was launched by the coal ministry in November last year. "After completion of technical evaluation, 27 coal mines which received more than one bid, will be put up for forward auction from Monday, February 27, 2023 onwards," the ministry said in a statement. In a bid to familiarise bidders with the auction process, mock e-auction will be conducted on February 24. According to the statement, the ministry launched the 6th round and 2nd attempt of 5th round of commercial coal mines auctions on November 3, 2022, which received unprecedented response from industry. "96 bids were received for 36 coal mines, including participation from many first time bidders, reflecting the enthusiasm among the bidders and the positive sentiment about coal mining sector," it added.

Coal India, companies with captive coal mines in steel, power and other sectors will be at an advantage

The government on Monday said that it has extended the deadline to submit bids for the coal blocks under sixth round of commercial mine auction till January 13. The biggest tranche of 141 mines covering eleven coal-bearing states are being offered in the sixth round of commercial coal mine auction. "In response to... requests from prospective bidders, the ministry has extended the bid due date till January 13, 2023," the coal ministry said in a statement. The earlier due date for submission of online and offline bids was December 30. The coal ministry had recently organised investor's conclaves in Mumbai, Bengaluru and Indore, for which tremendous response was received. Several pleas for extension of bid due date were received during conclaves and also in writing at the office of the nominated authority, ministry of coal. The coal ministry had launched the process for auction of 133 coal mines under sixth round of commercial auctions, of which 71 are new coal mines and 62 blocks

Union Minister G Kishan Reddy refuted Telangana Chief Minister K Chandrashekar Rao's allegations and said that the Centre has given coal mines not as per its wish but through an open auction

Agitators seek dearness relief as scheme component to ensure equitable pension; want adherence to provisions of CMPS 1998 on review and revision of pension every three years

Out of the 141 coal blocks which the Centre has put up for commercial auction, 62 mines are old which had gone unsold during previous attempts; hence they have been modified

The government is looking to sell 5%-10% in Coal India Ltd, Hindustan Zinc Ltd, Rashtriya Chemicals and Fertilizers Ltd via the so-called offer-for-sale mechanism

Investment would be voa NMDC's Perth-based arm, Legacy Iron Ore, which is already prospecting for iron ore, gold and base metals there

Larger shares of the state-owned miner's production are sold significantly below global benchmark prices, deterring global investors from participating in divestment plans

South Eastern Coalfields (SECL), the highest coal-producing company among the eight entities of CIL over the years, was outshined by Odisha-based Mahanadi Coalfields (MCL) in FY22

On Novemebr 3, Union Finance Minister Nirmala Sitharaman launched the biggest ever coal mine auction of 141 mines in India

Finance Minister Nirmala Sitharaman will launch the sixth round of commercial coal mines auction on Thursday. Sitharaman will be the chief guest at the launch event to be held in the national capital. The coal mines to be auctioned are fully-explored and partially-explored coking and non-coking mines, the coal ministry said in a statement. Coal minister Pralhad Joshi and Minister of State for coal, mines and railways Raosaheb Patil Danve will be the guests of honour for the event. "Details of the mines, auction terms, timelines etc. can be accessed on MSTC auction platform," the coal ministry said in a statement. The auction will be held in online mode through a transparent two-stage process, on the basis of percentage revenue share. The coal ministry has so far auctioned 64 mines under commercial coal mines auction, which was launched in 2020.

Vedanta Ltd on Wednesday said that its arm Balco has won the bid for a coal block in Chhattisgarh. The company emerged as successful bidder for the mine during the fourth round of commercial coal mine auction conducted by the government. "The coal block is an optimal fit for Balco, given its logistical location," Vedanta said in a filing to BSE. Once operational, the mine will provide fuel security, enhance power availability, and further strengthen Balco's operations and performance. The block has estimated reserves of 900 million tonnes. Balco was incorporated in 1965 as the first public sector undertaking in the country. In 2001 the Centre disinvested 51 per cent shares of Bharat Aluminium Company Ltd (BALCO) to Sterlite Industries Limited, a subsidiary of Vedanta Limited. The remaining 49 per cent is with the Centre.

An explosion inside a coal mine in northern Turkey killed at least 22 people, Turkey's health minister announced, while rescuers were trying to bring dozens of others trapped inside the mine to the surface. The explosion occurred 6:45 pm on Friday at the state-owned TTK Amasra Muessese Mudurlugu mine in the town of Amasra in the Black Sea coastal province of Bartin. Energy Minister Fatih Donmez said a preliminary assessment indicated the explosion was likely caused by firedamp a reference to flammable gases found in coal mines. There were 110 people in the mine at the time of the explosion, Interior Minister Suleyman Soylu, who travelled to Amasra to coordinate the rescue operation, told reporters. Most of the workers were able to evacuate following the blast, but 49 were trapped in a higher risk area of the facility, the minister said. Soylu would not provide a number for those still trapped, saying some among the 49 had been lifted to safety. Health Minister Fahrettin Koca ...

Vedanta Ltd has emerged as the highest bidder for two coal mines in Odisha on the second day of commercial coal mines auction. The government put on sale 10 coal mines under the commercial coal mine auction on Tuesday and Wednesday. "On the 2nd day of the e-auction today , two coal mines were put up for auction of which both coal mines were MMDR coal mines," the coal ministry said in a statement. The blocks were auctioned under the second attempt of the fourth round of commercial coal mine auction. Both the coal mines are fully explored and have Peak Rate Capacity (PRC) of 20 million tonnes per annum. Jaiprakash Power Ventures had emerged as the highest bidder for a coal block in Madhya Pradesh on the first day of the auction of blocks on Tuesday. While Madhya Bharat Minerals had emerged as the highest bidder for a coal mine in Chhattisgarh, Avassa Ferro Alloys bid the highest for a mine in Maharashtra. Gangaramchak Mining was the highest bidder for a mine in Jharkhand whi

With regards to commercial mining, coal minister Pralhad Joshi said 43 mines have been awarded during the last two years and that they will generate employment for nearly 32,000 people

Chennai-based India Cements has said that it has already imported two shipments of Russian coal due to shortage of domestic supply

After long power outages owing to coal shortages over two years, the government and its principal producer have drawn up an integrated plan to preclude the annual seasonal supply dislocations

CIL has called for bids to supply 2.4 mt of coal to be delivered for the July to September 2022 period