New Delhi: The Ministry of Coal has executed agreements with six successful bidders of coal mines under commercial mining in the 7th round of auctions on Friday. These six coal mines, with an aggregated peak rate capacity of 7 metric tonne per annum (MTPA), are expected to yield an annual revenue of approximately Rs 787.59 crore.
"These operational mines are anticipated to directly and indirectly create job opportunities for 9,464 individuals, supported by a significant investment of Rs 1,050 crore," the Ministry of Coal said on Friday.
The mines for which these agreements have been executed are Meenakshi West in Ib Valley in Sundergarh district of Odisha, North Dhadu (Eastern Part) and North Dhadu (Western Part) in Jharkhand, Pathora East and Pathora West in Madhya Pradesh and Sherband in Chhattisgarh. The successful bidders includes companies such as Hindalco Industries Limited, NTPC Mining Limited, NLC India Limited, Shri Bajrang Power & Ispat Limited and Nilkanth Mining Limited, the ministry informed.
Successful bidders will share revenue, ranging from 6 percent to 43.75 percent, averaging at 23.71 percent.
The government has successfully auctioned 91 coal mines ever since commercial coal mining was introduced in 2020. Out of these six coal mines, four mines have undergone partial exploration and the other two are fully explored.
"The Coal Ministry's meticulous and transparent auction process is a significant step toward fostering productive and progressive development in the coal mining sector," the statement concluded.