Team News Riveting
New Delhi, November 22
Ministry of Coal has executed the agreements for 3 coal blocks with successful bidders on November 22, 2024.
The event marked the successful auctions of 104 coal blocks till date since the launch of commercial coal mining in the country by Prime Minister Narendra Modi. All these three coal blocks are fully explored coal blocks.
Secretary, Ministry of Coal, Vikram Dev Dutt, along with Additional Secretary and Nominated Authority Ms. Rupinder Brar, handed over the agreements to the successful bidders of three coal blocks. During the occasion both officials assured full support and cooperation from the Ministry to ensure the smooth operationalization of the blocks. Dutt emphasized the Ministry’s commitment to facilitating the successful implementation of coal mining projects, which are expected to contribute significantly to India’s energy security and economic growth.
The blocks for which these Coal Block Production and Development Agreements have been executed are Meenakshi and Rampia and Dip Side of Rampia coal blocks. The Successful Bidders include Hindalco Industries Limited and Jhar Mineral Resources Private Limited respectively.
The total annual revenue generation from these 3 coal blocks under commercial auctions is estimated at Rs 2,709.95 crore considering production at aggregated Peak Rate Capacity level of 27.00 MTPA. Once these blocks are fully operational, they are expected to generate employment for 36,504 persons directly and indirectly and total investment of Rs 4,050 crores will be expended to operationalise these coal blocks. With the execution of CMDPAs for these 3 coal blocks, CMDPAs have been signed for 101 coal mines auctioned under commercial coal auctions.
Further, in the ongoing e-auction of 10th round, the Second day witnessed the auction of 2 coal blocks. Both the coal blocks are fully explored coal blocks. The total geological reserves for these 2 coal blocks are 180.26 Million Tonnes and Peak Rated Capacity (PRC) is 2.10 MTPA.
The results for Day 2 are as under:
| S. No. | Name of the block | State | PRC (mtpa) | Geological Reserves (MT) | Closing Bid Submitted by | Reserve Price (%) | Final Offer (%) |
| 1 | Bundu | Jharkhand | 1.00 | 102.268 | S M Steels and Powver Limited | 4.00 | 16.75 |
| 2 | Gare Palma IV-5 | Chhattisgarh | 1.10 | 77.990 | Sarda Energy and Minerals Limited | 4.00 | 25.75 |
These two coal blocks upon operationalization will generate Annual Revenue of Rs 339.06 crore calculated at PRC of these coal blocks. These blocks will attract capital investment of Rs 315.00 crore and will provide employment to 2,839 people.
