Coal Mines Auction

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.

A total of 99 bids for 36 coal mines were received by the Coal Ministry for the sixth round and second attempt of fifth round of commercial coal block auctions, which it had launched on Nov 3, 2022

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

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

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.

In March, Lok Sabha passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2021

"Mineral exploration will be carried out without adverse environmental impact through enhanced use of drones and other latest technologies," he said.

A parliamentary panel has suggested that greater transparency should be ensured in the auction of mineral concessions with pre-embedded clearances to give a fillip to the auction process

JSW Steel, Jindal Steel & Power Ltd and Bharat Aluminium Company Ltd were among the 21 firms that put in bids in the latest auction of coal mines, the government said on Wednesday. In all, 26 bids were received for the auction of coal mines under the fourth tranche of sale of coal, the coal ministry said in a statement. Five of the 11 coal mines put on auction received single bids. The Gare Palma IV/6 mine in Chhattisgarh received a maximum of eight bids. The mine was originally allotted jointly to Jindal Stel & Power Ltd (JSPL) and Malwa Sponge Iron Ltd in January 2006 to meet the coal requirement of their respective sponge iron plants in nearby Raigarh and Taraimal districts, respectively. However, the allocations, along with others, were cancelled by the Supreme Court 2014. Utkal B1 & B2 mines in Odisha received six bids, while Chinora in Maharashtra got four and three bids came in for Rabodih OCP in Jharkhand. "The process of 4th tranche of the auction of coal mines ...

Coal consumption to become even more import driven as domestic production plateaus

Centre said the second tranche of commercial coal mines' auction has received a tremendous response which is reflected in around 50 mine specific tender documents being purchased by bidders till date

In order to keep the interest of new and small players intact, the coal ministry is offering only small- and medium-sized coal mines in the second round

In an interview with Shreya Jai & Jyoti Mukul, Union Minister of Coal, Mines and Parliamentary Affairs Pralhad Joshi argues why coal production cannot be sacrificed at the altar of environment

Adani Enterprises, which was also in the race for these two mines, did not win any

The state exchequer is estimated to earn a total revenue of Rs 8 trillion from the auctioned mineral blocks over the lease period, including an estimated contribution of Rs 6 trillion through auction

The decision taken by the Cabinet Chaired by Prime Minister Narendra Modi will also do away with end-use restrictions of the mining blocks

Of the total revenue garnered till October 31, the maximum of Rs 1,280.58 crore was mopped up in 2018-19.

Prakash Industries on Wednesday emerged as the highest bidder for Bhaskarpara coal block in Chhattisgarh, an official said. Birla Corporation had on Tuesday bagged the Brahmapuri mine in Madhya Pradesh, the official said quoting the results of e-auction for coal mines under the eight tranche. Jindal Steel and Power Ltd (JSPL) was the highest bidder for Gare Palma IV/1 coal block in Chhattisgarh with a bid price of Rs 230 per tonne on Monday. Birla Corporation Ltd bagged the Bikram coal block in Madhya Pradesh with a bid price of Rs 154 per tonne last week. Six mines are on offer. Auctions for four blocks have been completed, the official said. The bidding for Jagannathpur B block and Jamkhani block will take place on Thursday and Friday, respectively. Bhaskarpara coal block was previously allocated to Bhaskarpara Coal Company Ltd (BCCL) -- a joint venture of Electrotherm (India) Ltd and Ultratech Cement Ltd, while Brahmapuri mine was previously allocated to Pushp Steels & ...

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