Coal Ministry signs agreement with six successful bidders for commercial mining of 91 mines
New Delhi: The Ministry of Coal has executed agreements with six successful bidders of coal mines under Commercial Mining in the 7th round of auctions on Friday.
This marked the successful auction of 91 coal mines ever since the inception of Commercial Coal Mining in the country initiated by Prime Minister Narendra Modi in 2020.
Out of these six coal mines, four mines have undergone partial exploration and the other two are fully explored.
The mines for which these agreements have been executed are Meenakshi West, North Dhadu (Eastern Part), North Dhadu (Western Part), Pathora East, Pathora West and Sherband.
The successful bidders include entities such Hindalco Industries Limited, NTPC Mining Limited, NLC India Ltd, Shri Bajrang Power & Ispat Ltd and Nilkanth Mining Ltd.
Furthermore, the estimated total annual revenue generation from these six coal mines stands at approximately Rs 787.59 crore, based on production at an aggregated Peak Rate Capacity (PRC) level of nearly 7.00 metric tonne per annum (MTPA).
Once these mines are fully operational, they are poised to generate employment for 9,464 persons directly and indirectly.
A substantial investment of Rs. 1,050 Crore has been earmarked for the operationalization of these coal mines.
The revenue-sharing percentages for the successful bidders in these six coal mines range from 6% to 43.75%, with an average revenue share of 23.71%.
SBI Capital Markets Ltd was the exclusive Transaction Advisor to the Ministry of Coal for the Commercial Coal Mine auction.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
