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India: Day 1 of Commercial Coal Mine Auction – 2nd Tranche


New Delhi: Ministry of Coal had launched the 2nd tranche of auction of coal mines for commercial mining on March 25, 2021.Three coal mines (1 mine each in Maharashtra, Jharkhand and Chhattisgarh) were put up for auction on Day 1 of Commercial Coal Mine Auction.

  • The blocks put on auction by Ministry of Coal generated wide interest from bidders who had submitted their bids for various blocks on offer.
  • The total geological reserves of the mines put up for auction on Day 1 are ~432 MT. Of the three mines on auction, Gondkhari coal mine is explored while the other two coal mines i.e. Jhigador and Jogeshwar&KhasJogeshwar are partially explored.
  • The technical bids submitted were evaluated and the list of Technically Qualified Bidders was declared.Pursuant to this, Ministry of Coal has commenced the electronic auction of the coal mines for commercial purpose today at 11:00 AM.
  • The e-auction process for all the mines will be completedbyAugust 04, 2021.

The results for Day 1 are as under:

S. No. Name of the Mine State Status of Exploration PRC (mtpa) Geological Reserves (MT) Preferred Bidder Reserve Price (%) Final Offer (%) Annual Revenue Generated (Rs. Cr.)
1 Gondkhari Maharashtra Explored 1.00 98.71 Adani Power Maharashtra Limited 4.00 9.50 122.83
2 Jogeshwar&KhasJogeshwar* Jharkhand Partially Explored NA 84.03 South West Pinnacle Exploration Ltd 4.00 24.25 NA
3 Jhigador* Chhattisgarh Partially Explored NA 250.00 CG Natural Resources Pvt Ltd 4.00 6.00 NA

*These are partially explored coal mines and therefore, the PRC is not available for these mines.Hence, the annual revenue which will be generated from these coal mines cannot be calculated at present.

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