Bhubaneswar: The Ministry of Coal had launched the Notice Inviting Tender (NIT) for the auction of coal mines for commercial mining under the 14th Tranche of CM(SP) Act, 2015, and 4th Tranche of MMDR Act, 1957 on December 16, 2021.
Two of the auctioned coal mines are from Odisha. These are – Utkal B1 & B2 coal mines with Geological reserves of 347.08 MT and the annual revenue projected from these mines is Rs 1,107.05 crore, the information provided by the Coal Ministry revealed.
The estimated capital investment in these two mines in Odisha has been estimated at Rs 1,200 crore while estimated total employment stands at 10,816. Both the coal mines in Odisha have been awarded to Jindal Steel and Power Limited following the auction.
During the e-auction conducted on the MSTC platform on March 31st and April 01st, 2022, cumulatively five CMSP coal mines were put up for auction. The three other mines auctioned were: Gare Palma IV/6 in Chhattisgarh, Rabodih OCP in Jharkhand and Chinora in Maharashtra.
All five coal mines are fully explored coal mines. The total geological reserves for these five coal mines are 665.08 Million Ton(MT). The cumulative PRC for these coal mines is 14.756 MT per annum.
Under the commercial coal mining auction process a total of 47 coal mines, including the above five coal mines auctioned in Tranche-4, have been successfully auctioned so far with a total cumulative PRC of 101.440 million ton per annum.
