67 Coal Mines spread across 8 States offered for auction
Revenue generated from the auctioned coal blocks goes to the respective State Governments
HYDERABAD, JUNE 21, 2024: The Ministry of Coal on Friday launched the 10th tranche of commercial coal mine auctions and a total of 67 coal mines are offered. Union Minister of Coal and Mines G. Kishan Reddy launched the 10th tranche of commercial coal mine auctions at Hyderabad in the presence of Mallu Bhatti Vikramarka, Deputy Chief Minister of Telangana and Satish Chandra Dubey, Minister of State for Coal and Mines.
These 67 coal mines are spread across the states of Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, West Bengal and Telangana and include both fully explored and partially explored and 3 coking coal mines.
The Ministry of Coal has taken a series of reforms to ensure that the coal sector grows at a rapid pace and is able to meet the country’s energy needs. For 10th Tranche also, mines falling under protected areas, wildlife sanctuaries, critical habitats, having forest cover greater than 40%, heavily built-up area, etc. have been excluded. The block boundaries of some of the coal mines where there was presence of dense habitation, high green cover or critical infrastructure, etc. have been revised to improve the attractiveness of the coal mines.
Addressing the gathering, Union Minister of Coal and Mines G. Kishan Reddy, emphasized the critical role of coal as the lifeline for all industries and its pivotal contribution in achieving a 5 trillion-dollar economy. He stressed that all coal entrepreneurs should collaborate towards nation’s development and align with the vision of Prime Minister of making India Aatmanirbhar in coal by making collective efforts and reducing the dependency on coal imports. He reiterated the importance of enhancing domestic coal production for India’s economic growth. It is crucial to work towards advancing in coal sector and our efforts today will make the future brighter. It was also informed that the revenue generated from the auctioned coal blocks goes to the respective State Government.
Deputy Chief Minister of Telangana Mallu Bhatti Vikramarka appreciated the efforts of Ministry of coal which has been working diligently to make the country self-sufficient in coal sector by significantly reducing foreign imports and producing nearly 1 Billion Tonne (BT) of coal in last financial year meeting the nation’s energy needs.
In his keynote address, Amrit Lal Meena, Secretary, Ministry of Coal placed significant emphasis on enhancing coal production to meet the rising energy demands and underscored that the increase in production must not compromise the safety of workers, stressing the adoption of global best practices to ensure secure working environment. Maintaining high standards of transparency was also a focal point, with an emphasis on adhering to stringent environment sustainability measures to mitigate the impact of coal mining on the ecosystem. He further called for robust state-level support to streamline the ease of doing business within the coal sector. He pointed out that such support is vital for fostering a conducive business environment that can attract investments and facilitate smoother operations.
The Additional Secretary and Nominated Authority, Ministry of Coal M Nagaraju highlighted the need to explore more coal block as there is surging demand of coal. He stressed that leveraging private investment and expertise is crucial for meeting the growing energy needs and ensuring steady coal supply to various industries. By opening more coal blocks for exploration and encouraging private participation will contribute the coal sector in achieving higher production targets.
The commencement of sale of tender document shall start from today i.e. June 21, 2024. Details of the mines, auction terms, timelines, etc. can be accessed on MSTC auction platform and website of Ministry of Coal. The auction shall be held online through a transparent two stage process, based on Percentage Revenue Share.
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