To ink agreements for mines auctioned
Team News Riveting
New Delhi, March 27
The Ministry of Coal will be signing the agreements for 28 coal mines auctioned under 6th round and launching the seventh round of auction of mines for sale of coal on March 29, 2023.
The Union Minister of Defence, Rajnath Singh, will be the chief guest and will be launching the next round of auction. Union Minister of Coal, Mines and Parliamentary Affairs, Pralhad Joshi will preside over the event and Minister of State for Coal, Mines and Railways Raosaheb Patil Danve will be the Guest of Honour.
The cumulative PRC of the 28 coal mines which were auctioned under 6th round for which the agreements are being singed is 74 Million Ton Per Annum ( MTPA) and these mines are expected to generate annual revenue of Rs. 14,497 crores calculated at PRC of these coal mines. Upon operationalisation, these mines are expected to generate employment for one lakh people.
The coal mines being offered under 7th round are a mix of partially explored, fully explored, coking, non-coking, lignite etc. Of the 106 coal mines offered under 7th round, 61 mines are partially explored coal mines and 45 are fully explored ones. There are 95 non-coking coal mines, one coking coal mine and 10 lignite mines being offered under 7th round of auctions.
The commencement of sale of Tender Document shall start from March 29, 2023. Details of the mines, auction terms, timelines etc. can be accessed on MSTC auction platform. The auction shall be held online through a transparent two stage process, on the basis of Percentage Revenue Share.
