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Five Coal Mines of Four States Auctioned Under 4th Tranche of Commercial Auction

in Business, National April 2, 2022 Comments Off on Five Coal Mines of Four States Auctioned Under 4th Tranche of Commercial Auction 433 Views

Newdelhi:2/4/22:The Ministry of Coal had launched the Notice Inviting Tender (NIT) for the auction of coal mines for commercial mining under the 14th Tranche of CM(SP) Act, 2015, and 4th Tranche of MMDR Act, 1957 on December 16, 2021. During the e-auction conducted on the MSTC platform on March 31st and April 01st, 2022, cumulatively five CMSP coal mines were put up for auction. A summary of these  coal mines is as under:

  • All five coal mines are fully explored coal mines.
  • The total geological reserves for these five coal mines are 665.08 Million Ton(MT).
  • The cumulative PRC for these coal mines is 14.756 MT per annum.

The details of  the coal mines are provided below:

S. No Name of the State Name of the Mine Geological Reserves (MT) PRC

(MTPA)

 Annual Revenue projected based on the PRC of mine (Rs. Cr.) Estimated Capital Investment (Rs. Cr.) Estimated Total Employment
1 Chhattisgarh Gare Palma IV/6 166.98 4.000 1255.66 600.00 5408
2 Jharkhand Rabodih OCP 133.17 2.500 367.10 375.00 3380
3 Maharashtra Chinora 17.85 0.256 62.26 38.40 346
4 & 5 Odisha Utkal B1 & B2 347.08 8.000 1107.05 1200.00 10,816
Total 665.08 14.756 2,792.07 2,213.40 19,950

The cumulative results for the 4th Tranche of commercial coal mine auction are as under:

S. No. Name of the Mine State PRC (mtpa) Geological Reserves (MT) Closing Bid Submitted by Reserve Price (%) Final Offer (%)
1 Gare Palma IV/6 Chhatisgarh 4.000 166.98 Jindal Steel And Power Limited/64898 4.00 85.25
2 Rabodih OCP Jharkhand 2.500 133.17 Twenty-First Century Mining Private Limited/242211 4.00 6.00
3 Chinora Maharashtra 0.256 17.85 BS Ispat Limited/64979 4.00 53.00
4 & 5 Utkal B1 & B2 Odisha 8.000 347.08 Jindal Steel and Power Limited/64898 4.00 15.25

Under the commercial coal mining auction process a total of 47 coal mines, including the above five coal mines auctioned in Tranche-4, have been successfully auctioned so far with a total cumulative PRC of 101.440 million ton per annum.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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