Auction
Two coal mines put up for auction on 1st day of 7th round of commercial auction
New Delhi: Two coal mines were put up for auction on Tuesday, the first day of the commercial auction, after the evaluation of bids for commercial mining, the Coal Ministry said in a statement.
“The Ministry of Coal had launched the auction of coal mines for commercial mining under 7th round and second attempt of 6th round on March 29, 2023,” said the statement.
After the evaluation of bids, forward e-auctions for six mines were launched today.
Of the two mines put on auction today—one mine is CMSP coal mine and the other one is the MMDR coal mine.
The total geological reserves for these two mines are 516.34 Million Tonnes (MT).
The cumulative peak rated capacity (PRC) for these coal mines is 3 Million Tonnes per annum (MTPA).
Upon operationalization, these coal mines will generate an Annual Revenue of Rs 337.54 crores calculated at PRC of these coal mines (excluding partially explored coal mines), the ministry said.
These mines will attract capital investment of Rs 450 crores and will provide employment to 4,056 people, it added.
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.
