Coal Ministry Approves Five New Coal Mines

NEW DELHI: After a long gap of 4 years, has approved the allocation of five Coal Mines. This was the result of the electronic auction conducted by Ministry of Coal in first week of November 2019. The Ministry had initiated the auction processes for 27 coal mines for Non-Regulated sectors previously.




























































S.


No



Name of Coal Mine



State



Extractable Reserves (Mt)



Grade



PRC


(Mtpa)



Successful Bidder



1



Bikram



Madhya Pradesh



9.44



G-8



0.36



Birla Corporation Limited



2



Brahampuri



Madhya Pradesh



12.343



G-6



0.36



Birla Corporation Limited



3



Bhaskarpara



Chhattisgarh



24.06



G-7



1.00



Prakash Industries Limited



4



Jagannathpur B



West Bengal



50.02



G-10



0.80



Powerplus Traders Private Limited



5



Jamkhani



Odisha



114.98



G-11



2.60



Vedanta Limited



The significant feature of the allocations is that for the first time, the successful bidders shall have the flexibility to sell 25% coal produced in the open market. This will boost the coal production in the country and reduce the dependence of industries on imported coal. It is also envisaged that this step will generate huge revenue for State Governments where the mines are located in the form of Upfront Amount, Royalties and other applicable taxes.






















































S.


No



Name of Coal Mine



State



PRC


(Mtpa)



Final Price (Rs./tonne)



Revenue for 30 years*


(Rs Crore)



1



Bikram



Madhya Pradesh



0.36



154



166.32



2



Brahampuri



Madhya Pradesh



0.36



156



168.48



3



Bhaskarpara



Chhattisgarh



1.00



1100



3,300.00



4



Jagannathpur B



West Bengal



0.80



185



444.00



5



Jamkhani



Odisha



2.60



1674



13,057.20