Bharat Aluminium Company (Balco) bagged one more coal block on the eighth day of the auction, taking the total number of mines sold so far through the ongoing auction to 18 that will generate an estimated over Rs 1 lakh crore for respective states.
Late last night, Hindalco Industries had bagged Gare Palma IV/4 mine in Chhattisgarh. The Aditya Birla Group company has bagged three coal blocks -- two in Chhattisgarh and one in Jharkhand so far.
Of the 19 blocks put on sale in the first tranche, 18 have been sold in eight days. The remaining one -- Gare Palma IV-7 mine in Chhattisgarh -- is the most sought after block as 12 bids have technically qualified for this non-power sector mine.
"Gare Palma IV-1 mine closed at Rs 1,585 (per tonne) and the winner is Balco," a coal ministry official said. Earlier, Balco had bagged Chotia mine in the same state.
Gare Palma IV/1 in Chhattisgarh has an extractable reserves of 49.57 MT. This is expected to generate an estimated Rs 7,856 crore for the state.
"Hindalco is the highest bidder at Rs 3,001 (per tonne) for Gare Palma 4/4," Coal Secretary Anil Swarup tweeted.
This will yield around estimated Rs 3,691 crore.
After sale of 16 blocks, Coal Secretary Anil Swarup yesterday had said: "The e-auction amount is Rs 83,662 crore. But these blocks will also entail an income to the states by way of royalty which comes to Rs 12,801 crore."
With two more mine being sold, the figure has crossed Rs 1 lakh crore mark.
The companies that have bagged 18 blocks include Reliance Cement, GMR Chhattisgarh, Hindalco, Sunflag Iron and Steel, Jaiprakash Associates, Jaiprakash Power Ventures, OCL Iron and Steel, Bharat Aluminium, Essar Power MP, Jindal Power and UltraTech Cement.
