 "Photo: Bloomberg")
The Centre announced on Thursday that it had issued allocation orders to successful bidders for 22 coal mines that had been put up for sale for commercial mining.
"The nominated authority, Ministry of Coal has issued vesting orders for 22 coal mines to successful bidders of coal blocks under commercial coal mine auction on 8 June, 2023," the ministry said in a statement.
“Out of the 22 coal mines, eleven mines are under Coal Mines (Special Provisions) Act, 2015 and the rest come under Mines & Minerals (Development and Regulation) Act, 1957," it added.
While 16 coal mines have been fully explored, the remaining six have only been partially explored.
The cumulative peak rated capacity (PRC) of 22 coal mines is 53 million tonnes per annum (MTPA). The total geological reserve of six coal mines is 6,379.78 million tonnes, and the blocks are expected to generate annual revenue of Rs 9,831 crore and attract capital investment of Rs 7,929 crore. It will, directly and indirectly, employ 71,467 people, the statement further read.
With the allocation of these mines, the ministry has issued vesting orders for a total of 73 mines under commercial auctions with a total PRC of 149.304 MTPA.
"This will result in generation of annual revenue of Rs 23,097.64 crore to the state governments and will generate employment opportunities to 201,847 people, both directly and indirectly," it added.
