Sunday, May 22, 2022

Commercial mining: Joshi launches auction of 122 coal, lignite mines

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  • Of the109 mines on offer for commercial mining, 59 are fully explored mines and 50 are partially explored mines
  • The commencement of sale of tender document shall start from today

New Delhi: Including 18 new coal mines, the Ministry of Coal has placed on offer 122 coal, lignite mines under commercial auction of coal mines on Wednesday. Addressing the fifth tranche of auction launch, Union Minister of Coal Pralhad Joshi said that 42 coal mines have already been auctioned successfully so far. Along with ensuring energy security of the nation, this will provide employment opportunity to more than 1.17 lakh people, the minister said. 

“The success of these auctions indicate that the right steps are being taken by the government to provide further momentum to the growth of the coal sector. The Ministry of Coal is on the journey to reform the sector and unlock its potential. The recent reforms initiated in the coal sector will further strengthen the vision of Aatmnirbhar Bharat,” Joshi said.

The latest round of auction includes 109 coal mines under 15th Tranche of Coal Mines (Special  Provisions) Act, 2015 and fifth tranche of Mines and Minerals (Development &  Regulation) Act, 1957. Four coal mines have been put on offer under the second attempt of 14th tranche of Coal Mines (Special Provisions) Act, 2015 and second attempt of 4th Tranche of Mines and Minerals (Development & Regulation) Act, 1957. Nine coal mines have been placed on offer under the second attempt of 13th Tranche of Coal Mines (Special Provisions) Act, 2015 and second attempt of 3rd Tranche of Mines and Minerals (Development & Regulation) Act, 1957.

Commercial mining: 59 fully explored mines on offer

Of the 109 mines on offer, 59 are fully explored mines and 50 are partially explored mines. Mines are spread across 11 coal/ lignite bearing states of Jharkhand, Chhattisgarh, Odisha, Madhya Pradesh, Maharashtra, West Bengal, Andhra Pradesh, Rajasthan, Tamil Nadu, Bihar and Telangana.

The list of mines has been finalised post detailed deliberations and mines falling under protected areas, wildlife sanctuaries, critical habitats, having forest cover greater than 40 percent, heavily built-up area etc have been excluded, said the Ministry of Coal.

Tender document sale starts today

The commencement of sale of tender document shall start from today. Details of the mines, auction terms, timelines etc 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.

SBI Capital Markets Limited, sole Transaction Advisor to Ministry of Coal for the commercial coal mine auction, had devised the methodology and is assisting the Ministry of Coal in the auction.

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