Home » COAL » Auction of Coal Mines

Auction of Coal Mines

Sixty seven  coal mines have been offered in the current tranche of auction for sale of coal.Out of these 67 coal mines, 14 coal mines are located in Odisha. List of these 14 coal mines is given below:

S. No. Coal Mine
1 Machhakata
2 Mahanadi
3 NuagaonTelisahi
4 Ramchandi Promotion Block
5 Alaknanda
6 Bartap
7 Burapahar
8 Dip Extn of Belpahar
9 Dip Side of Chatabar
10 Kardabahal-Brahmanbil
11 Kosala West
12 Phuljhari East & West
13 Saradhapur North
14 Tentuloi

No auction revenue will accrue to the Union Government. Revenue to the State Governments concerned from 67 coal mines offered in the current tranche of auction for sale of coal can not be estimated during the auction process as out of these 67 coal mines, 30 coal mines are partially explored and the number of mines, which will get auctioned can not be known.

Coal mines are auctioned under the provisions of Coal Mines (Special Provisions) Act, 2015 and Mines and Minerals (Development and Regulation) Act, 1957.Methodology for auction of coal and lignite mines/blocks for sale of coal/lignite on revenue sharing basis was issued on 28.05.2020. Salient features of the Methodology are as under:

  • Based on Revenue sharing mechanism. Floor percentage at 4%.
  • Applicable to fully explored as well as partially explored coal blocks.
  • Upfront amount is based on value of estimated geological reserves.
  • Successful Bidder to pay monthly revenue share based on percentage of revenue share quoted, total quantity of coal and notional or actual price whichever is higher.
  • Incentives for early production, gasification and liquefaction of coal.
  • Exploitation of Coal Bed Methane is allowed.
  • No restriction on the sale and/ or utilisation of coal. More flexibility in coal production schedule.

This information was given by the Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi in a written reply in Lok Sabha today.

About IIPnews

Leave a Reply

Your email address will not be published.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

*

x

Check Also

Diversification of Coal CPSE’s for Sustainable Energy Ecosystem

The Ministry of Coal is at the forefront of a transformative initiative aimed at diversifying ...

CIL Achieves Record Coal Production of 703.91 MT up to 7th March 2024

The Coal India Limited (CIL) has achieved a record production of 703.91 million tonnes (MT) ...

Launch of Exploration Licence for Critical and Deep Seated Minerals by the States of Karnataka and Rajasthan – A First in the Country

Karnataka and Rajasthan launched auction of Exploration Licence (EL) for critical and deep seated minerals ...

Year of Exponential Growth of Coal CPSEs

Last one year, coal CPSEs have witnessed an exponential growth commensurate with their contribution to ...

Coal Ministry’s Response to Allegations Raised Against Coal Auctions held in 2015

Recently, an article has been published in a section of media alleging that Union Government ...

Historical Coal Production growth: Cheaper and Assured Availability

Our country is endowed with 5th largest geological reserves of coal.  We are 2nd largest consumers of ...

Coal Production and Dispatch from Captive and Commercial Mines Goes up by 27% and 29% respectively during Current Fiscal upto February 2024

There is month on month (m-o-m) and year-on-year (yoy) increase in coal production and dispatch ...

Union Minister Pralhad Joshi launches “Coal Logistics Plan and Policy”

Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi has launched a groundbreaking ...

13.80% Compounded Annual Growth rate of revenue from Coal Mining during 2014-2023

Coal mining sector has proved to be a big booster for economic growth of the ...

Coal India Limited Signs MoU with Indian Institute of Managements (IIM) to boost PM’s mission Gati Shakti

The Coal India Limited entered into a Memorandum of Understanding (MoU) with Indian Institute of ...

WP2Social Auto Publish Powered By : XYZScripts.com