Home » COAL » Allocation of 5 Coal Mines Approved

Allocation of 5 Coal Mines Approved

The Ministry of Coal, after a long gap of 4 years, has approved the allocation of five Coal Mines. This was the result of the electronic auction conducted by Ministry of Coal in first week of November 2019. The Ministry had initiated the auction processes for 27 coal mines for Non-Regulated sectors previously.

The details of the five Coal Mines allocated are:

 

S.

No

Name of Coal Mine State Extractable Reserves (Mt) Grade PRC

(Mtpa)

Successful Bidder
1 Bikram Madhya Pradesh 9.44 G-8 0.36 Birla Corporation Limited
2 Brahampuri Madhya Pradesh 12.343 G-6 0.36 Birla Corporation Limited
3 Bhaskarpara Chhattisgarh 24.06 G-7 1.00 Prakash Industries Limited
4 Jagannathpur B West Bengal 50.02 G-10 0.80 Powerplus Traders Private Limited
5 Jamkhani Odisha 114.98 G-11 2.60 Vedanta Limited

 

 

The significant feature of the allocations is that for the first time, the successful bidders shall have the flexibility to sell 25% coal produced in the open market. This will boost the coal production in the country and reduce the dependence of industries on imported coal. It is also envisaged that this step will generate huge revenue for State Governments where the mines are located in the form of Upfront Amount, Royalties and other applicable taxes.

 

S.

No

Name of Coal Mine State PRC

(Mtpa)

Final Price (Rs./tonne) Revenue for 30 years*

(Rs Crore)

1 Bikram Madhya Pradesh 0.36 154 166.32
2 Brahampuri Madhya Pradesh 0.36 156 168.48
3 Bhaskarpara Chhattisgarh 1.00 1100 3,300.00
4 Jagannathpur B West Bengal 0.80 185 444.00
5 Jamkhani Odisha 2.60 1674 13,057.20

*excluding royalties, levies, and applicable taxes

 

About ppb

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Commercial Coal Mining will start new era of development in Chhattisgarh: Pralhad Joshi

Commencement of commercial coal mining will start new era of growth & development in Chhattisgarh, ...

Demise of Any Coal India Employee Due to Covid 19 Will Be Treated as Accidental Death: Shri Pralhad Joshi 

Death of Coal India employees due to Corona Pandemic will be treated as accidental death ...

Coal India Limited to produce 710 MT coal in current financial year: Shri Pralhad Joshi

Coal India Limited (CIL) will produce 710 million tonnes (MT) of coal and company’s coal ...

Coal stocks at power plants increase by 77% to 34.25 MT: Pralhad Joshi

Coal stocks at power plants peaked to 34.25 million tonnes on January 26, equivalent to ...

Ministry of Coal Releases Discussion Paper on Auction of Coal Mines for Sale of Coal

Moving ahead after the recent amendments MMDR Act 1957 and the CMSP Act 2015,the Ministry ...

New Guidelines and Simplified Approval Process for Coal Projects; to Enhance Ease of Doing Business

In sync with the Government’s commitment for ‘Ease of doing business’, theMinistry of Coalhas decided ...

Government mops up Rs. 203221 crore revenue from Coal India Limited since FY 2013-14: Shri Pralhad Joshi

The Government has collected Rs. 203221.12 crore in revenue from Coal India Limited (CIL) in ...

Exploration of 37 and drilling of 121 non-CIL coal blocks this year; Country to produce810 MT of coal in FY 20 : Shri Pralhad Joshi

The government has planned exploration of 37 coal blocks and 10 lignite blocks along with ...

Coal Minister announces 300% increase in  Ex-Gratia  for fatal Coal Mine Accidents

The Minister of Coal and Mines, Shri Pralhad Joshi announced 300 per cent hike in ...

Interdisciplinary Centre for Energy Research dedicated to the Nation

Union Minister of Science & Technology, Dr.  Harsh Vardhan, today inaugurated the National Centre for ...

WP2Social Auto Publish Powered By : XYZScripts.com