Friday, May 13, 2022

Commercial mining: Govt auctions 5 coal mines under tranche IV auction

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  • Jindal Steel & Power Limited (JSPL) has bagged three out of five coal mines — Gare Palma IV/6 coal mine in Chhattisgarh and Utkal B1 & B2 coal blocks in Odisha
  • Jharkhand’s Rabodih OCP with geological reserves of 133.17 MT has been awarded to Twenty First Century Mining Private Limited 

New Delhi: The government has successfully auctioned five coal mines for commercial mining under tranche IV of the auction process, the Ministry of Coal said on Saturday. “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. 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,” said a statement.

Commercial mining auction: JSPL bags 3 coal mines

Jindal Steel & Power Limited (JSPL) has bagged three out of five coal mines — Gare Palma IV/6 coal mine in Chhattisgarh and Utkal B1 & B2 coal blocks in Odisha for commercial mining. The company offered a huge 85.25 percent revenue share for the Gare Palma IV/6 mine, which has geological reserves of 166.98 Million Tonne (MT), and 15.25 percent revenue share for Utkal B1 & B2 coal blocks which have 347.08 MT of geological reserves. 

Jharkhand’s Rabodih OCP with geological reserves of 133.17 MT has been awarded to Twenty First Century Mining Private Limited at a revenue share percentage of 6 percent. Chinora coal block in Maharashtra, with 17.85 MT reserves, went to BS Ispat Limited which offered 53 percent revenue share.

All the five coal mines that have been awarded in tranche IV of commercial coal mine auction are fully explored coal mines. The total geological reserves for these five coal mines are 665.08 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,” said the Ministry of Coal.

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