Government Auctions Six Coal Mines In the Seventh Tranche; NLC, NTPC Among the Winners

In the seventh round of auctions, which ended with the sale of all six mines put up for bid, state-owned NLC India and NTPC as well as three other private entities won coal blocks, according to an official statement released on Friday.

According to a statement from the Ministry of Coal, NLC won the Jharkhand coal block of North Dhadu (Western Part), which has 434 million tonnes of reserves, while NTPC got the Jharkhand coal block of North Dhadu (Eastern Part), which has 439 million tonnes (MT) of reserves.

Individual players The Meenakshi West block in Odisha, which possesses 950 MT of coal reserves, was acquired by Hindalco Industries. With 110.40 MT and 81.69 MT of reserves, respectively, Bajrang Power and Ispat Ltd won the Pathora East and Pathora West coal blocks in Madhya Pradesh.

Additionally, Nilkanth Coal Mining acquired the 90 MT-reserved Sherband coal block in Chhattisgarh.

“With the successful auctioning of these six coal mines, the total number of coal mines auctioned under commercial auctions now stands at 92,” the ministry said.

At the present PRC (peak rated capacity) of coal mines, it is anticipated that these mines would provide yearly income of around Rs 34,185 crore (excluding partly explored coal mines).

According to the statement, the operationalization of these coal mines is anticipated to result in capital expenditures of around Rs 34,486 crore and to provide job possibilities for over 3,10,818 individuals.

Two coal mines of the mines up for sale have been completely investigated, while four have only been partly explored.

“The average revenue share has increased from 22.12% in the prior tranche to 23.71%, demonstrating an upward trend. According to the coal ministry, this increased income share “indicates a strong and ongoing interest from industry participants and investors in the commercial coal mining sector and stable future of coal mining in India.

Additionally, it indicated that the government’s reforms in the coal industry, which included the introduction of commercial coal mining, had been successful.