India: Coal Ministry signs Agreements with Successful Bidders of Six Coal Mines for Commercial Mining

The Ministry of Coal has executed agreements with six successful bidders of coal mines under Commercial Mining in 7^th round of auctions here today. The momentous event marked the successful auction of 91 coal mines ever since the inception of   Commercial Coal Mining in the country by the Prime Minister Shri 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 encompasses notable entities such Hindalco Industries Limited, NTPC Mining Limited, NLC India Limited, Shri Bajrang Power & Ispat Limited and Nilkanth Mining Limited.

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 ~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%.