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

New Delhi: 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.