Hello User
Sign in
Sign Out
Next Story
Business News/ News / India/  Coal Ministry auctions 10 mines, Dalmia Cement (Bharat) bags an MP coal mine

Coal Ministry auctions 10 mines, Dalmia Cement (Bharat) bags an MP coal mine

On the first day of auction of coal mines for commercial purposes, the government had put 10 mines on the block

Coal mine auction day 1 (File photo)

The Coal Ministry on Monday started the auctions for 10 mines under the Commercial Auction. Out of the 10 mines put on auction on Monday, Dalmia Cement (Bharat) won a block in Madhya Pradesh.

One coal mine in Chhattisgarh saw Shree Cement as the highest bidder. Meanwhile, Rungta Sons emerged as highest bidder for a coal mine in Odisha, Samlok Industries made the highest bid for a mine in Maharashtra.

The total geological reserves for these 10 coal mines are 1,866 million tonnes.

Another coal mine in Madhya Pradesh was won by Rama Cement Industries and Orissa Metallurgical Industry gave a closing bid for a West Bengal mine.

MH Natural Resources emerged as the highest bidder for a coal block in Maharashtra and RCR Steel Works made the highest bid for a mine in Jharkhand, reported PTI.

CG Natural Resources bagged coal block in Chhattisgarh.

The government had launched auctions of coal mines for commercial mining under the sixth round and second attempt of fifth round on November 3, 2022.

"Forward auctions for these mines have been started on February 27, 2023 and on the 1st day of the e-auction, 10 coal mines were put up for auction," a statement issued by the government said.

The cumulative peak rated capacity for these coal mines is 7.9 million tonnes per annum (MTPA) (excluding partially explored coal mines).

These coal mines upon operationalisation will generate annual revenue of Rs. 990 crore calculated. These mines will attract capital investment of Rs. 1,185 crore and provide employment to 10,681 people.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Get the latest financial, economic and market news, instantly.