Govt launches 7th round of coal auctions, puts 106 mines on sale
Union Minister for Coal and Mines Pralhad Joshi, who was also present on occasion with Rajnath Singh, said the government will provide incentives to players who will start early production from the mines. He also noted that coal would be in use for the next 40-50 years.
- Mar 29, 2023,
- Updated Mar 29, 2023 4:04 PM IST
The Centre on Wednesday launched the seventh round of auctions for commercial mining of coal blocks, putting 106 mines on sale. Out of these blocks on sale in the seventh round, 61 are partially explored and 45 mines are fully explored. As many as 95 non-coking coal mines, 10 lignite mines, and one coking coal mine are being offered in the latest round of auction.
Launching this round of auctions, Defence Minister Rajnath Singh said coal is considered black gold which plays an important role in strengthening the country's economy. "Our energy consumption has grown in the last few years and will continue to grow. And to meet this need we will have to start taking efforts from today," he said.
Union Minister for Coal and Mines Pralhad Joshi, who was also present on occasion with Rajnath Singh, said the government will provide incentives to players who will start early production from the mines. He also noted that coal would be in use for the next 40-50 years.
As per the coal ministry, details of the mines, auction terms, and timelines can be accessed on the MSTC auction platform. The auction shall be held online through a transparent two-stage process, on the basis of percentage revenue share.
Joshi also said that the agreement signing ceremony for 29 coal mines auctioned during the sixth tranche was also held today. "So far in 6 tranches, 87 blocks have been successfully auctioned, with a PRC (peak rated capacity) of 220 MT. Estimated revenue from these 6 tranches total up to more than Rs 33,200 crore, generating almost 3 lakh jobs," the minister said.
Companies like JSW Cements, Ultratech Cements, Ambuja Cements, and Jindal Power were among the successful bidders in the sixth round of auctions.
(With inputs from PTI)
The Centre on Wednesday launched the seventh round of auctions for commercial mining of coal blocks, putting 106 mines on sale. Out of these blocks on sale in the seventh round, 61 are partially explored and 45 mines are fully explored. As many as 95 non-coking coal mines, 10 lignite mines, and one coking coal mine are being offered in the latest round of auction.
Launching this round of auctions, Defence Minister Rajnath Singh said coal is considered black gold which plays an important role in strengthening the country's economy. "Our energy consumption has grown in the last few years and will continue to grow. And to meet this need we will have to start taking efforts from today," he said.
Union Minister for Coal and Mines Pralhad Joshi, who was also present on occasion with Rajnath Singh, said the government will provide incentives to players who will start early production from the mines. He also noted that coal would be in use for the next 40-50 years.
As per the coal ministry, details of the mines, auction terms, and timelines can be accessed on the MSTC auction platform. The auction shall be held online through a transparent two-stage process, on the basis of percentage revenue share.
Joshi also said that the agreement signing ceremony for 29 coal mines auctioned during the sixth tranche was also held today. "So far in 6 tranches, 87 blocks have been successfully auctioned, with a PRC (peak rated capacity) of 220 MT. Estimated revenue from these 6 tranches total up to more than Rs 33,200 crore, generating almost 3 lakh jobs," the minister said.
Companies like JSW Cements, Ultratech Cements, Ambuja Cements, and Jindal Power were among the successful bidders in the sixth round of auctions.
(With inputs from PTI)