Sarda Energy and Minerals, SM Steels bag coal mines on day 2 of auction

Sarda Energy and Minerals Ltd and S M Steels and Power Ltd have bagged two blocks on the second day of commercial coal mines auction. 

While Sarda Energy won a coal mine having geological reserves of 102.268 million tonne (MT) in Chhattisgarh, S M Steels and Power bagged a block with reserves of 77.9 MT in Jharkhand. 

This was the second day of the ongoing 10th round of e-auction, as per a coal ministry statement. These two coal blocks upon operationalisation will generate annual revenue of Rs 339.06 crore calculated at peak rated capacity (PRC) of these mines.

 

The blocks will attract capital investment of Rs 315 crore and will provide employment to 2,839 people. A total of nine blocks have been put on sale in the tenth round of auction. 

 

NLC India, ACC, and JSW Energy Utkal are among the five companies that bagged five mines on the first day of auction on Thursday. 

While ACC bagged a coal mine in Madhya Pradesh, NLC India Ltd and JSW Energy Utkal won one block each in Odisha. 

Two other companies that won coal blocks are Mineware Advisors Pvt Ltd and Shreeji Nuravi Coal Mining and Trading Pvt Ltd.

One of the five coal mines is fully explored while four are partially explored. 

The total geological reserves of these five coal mines are 2,630.77 million tonne. Cumulative PRC for these blocks is 12 MTPA.

The government launched the auction of coal mines for commercial mining under the tenth round on June 21.