In a transformative move towards economic growth, the Ministry of Coal’s Commercial Coal Mine Auction has witnessed remarkable success over the past three years. A total of 91 mines have been successfully auctioned, with six already in commercial production and three more expected to commence operations in the coming months.
“The recent launch of the 9th tranche in December 2023 added 31 coal mines from Jharkhand, Chhattisgarh, Madhya Pradesh, and Telangana to the auction pool. This initiative, part of the transparent online auction system inaugurated by the Prime Minister in 2020, has completed seven rounds successfully”.
The coal mines auctioned in the previous rounds are poised to bring in an estimated annual revenue of Rs. 33,343 crore, based on the aggregated Peak Rate Capacity level of 220.90 million tonnes per annum (MTPA). Notably, these operational mines are expected to generate direct and indirect employment for approximately three lakh individuals, contributing to the nation’s employment landscape.
One of the key objectives of commercial coal mining is to attract new investments to the country. The revenue generated from these auctions will be allocated to coal-bearing states, including Jharkhand, Chhattisgarh, Odisha, Madhya Pradesh, Maharashtra, West Bengal, Andhra Pradesh, Telangana, Arunachal Pradesh, Bihar, and Assam.
“As the auctioned mines progress towards full operational capacity, they are poised to play a pivotal role in the economic development of the regions they are located in. The revenue infusion and employment opportunities generated by these mines align with the broader vision of fostering economic growth, particularly in coal-bearing states”.
