Coal Ministry signs agreements with successful bidders of six coal Mines for commercial mining
Sep 30, 2023
New Delhi [India], September 30 : The Ministry of Coal has executed agreements with six successful bidders of coal mines under Commercial Mining in the 7th round of auctions, an official statement said on Friday.
The Coal Ministry said that four mines have undergone partial exploration and the other two are fully explored out of these six coal mines.
"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 and Ispat Limited and Nilkanth Mining Limited," the Ministry said.
"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)," coal ministry added.
Ministry further mentioned that 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 per cent to 43.75 per cent, with an average revenue share of 23.71 per cent," an official statement said.
