Coal Ministry issues orders for 22 Coal Mines to successful bidders

New Delhi: The Nominated Authority, Ministry of Coal has issued Vesting Orders for 22 coal mines to successful bidders of coal blocks under a commercial coal mine auction here today. Out of the 22 coal mines, eleven mines are under Coal Mines (Special Provisions) Act, 2015 and the rest comes under Mines & Minerals (Development and Regulation) Act, of 1957. Sixteen coal mines are fully explored mines while six mines are partially explored ones.

Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoY

The cumulative peak rated capacity (PRC) of 22 coal mines is 53 million tonne per annum (MTPA) and having approximately 6,379.78 million tonne (MT) of Geological Reserves. These mines are expected to generate Annual Revenue of Rs. 9,831 crores and will attract Capital Investment of  Rs. 7,929 crores. It will provide employment to  about 71,467 people both directly and indirectly.

 

Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail deposits

With the vesting of these 22 coal mines, the Ministry of Coal had issued vesting orders for a total of 73 coal mines under commercial auctions till date with a cumulative PRC of 149.304 MTPA. This will result in the generation of an Annual Revenue of Rs. 23,097.64 crores to the State Governments and will generate employment opportunities to 2,01,847 people,  both directly and indirectly.

Read Also : India assumes the Chair of Asian Disaster Preparedness Centre