07/27/2021 | Press release | Distributed by Public on 07/27/2021 02:15

Auction of Coal Mines

Coal mines are not identified for auctioning exclusively to private sector companies. As per the provisions of the Coal Mines (Special Provisions) Act, 2015 [CMSP Act] and the Mines and Minerals (Development and Regulation) Act, 1957 [MMDR Act], both government and private sector companies are eligible to participate in the auction process. Auction of coal mines is a continuous process. So far, 46 coal mines have been successfully auctioned out of which 44 coal mines have been auctioned to private sector companies.

67 coal mines have been offered in the current tranche of auction for sale of coal (23 coal mines under CMSP Act and 44 coal mines under MMDR Act). The auction process is underway.

Annual Revenue likely to be generated from 20 mines recently auctioned for sale of coal at Peak Rated Capacity of Mine is around Rs. 7,419 Crore. Total employment estimated to be generated from these 20 mines is 79,019.

This information was given by Minister of Parliamentary Affairs, Coal and Mines Shri Pralhad Joshi in Rajya Sabha on 26 July, 2021.

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SS/RKP

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