Coal Ministry completes seventh tranche of coal block auctions

The Ministry of Coal has auctioned 6 coal mines for commercial mining under the seventh round and second attempt of sixth round. Among the mines auctioned, two coal mines are fully explored while four are partially explored. The total geological reserve for these six coal mines is at 2,105.74 million tonnes (mt). The cumulative peak rated capacity (PRC) for these coal mines is 7 mt per annum. The average revenue share has shown an upward trend, increasing from 22.12 per cent in the previous tranche to 23.71 per cent. With the successful auctioning of these six coal mines, the total number of coal mines auctioned under commercial auctions so far stands at 92. These mines are projected to generate an annual revenue of approximately Rs 341.85 billion (excluding partially explored coal mines) calculated at the current PRC of coal mines. The operationalisation of these coal mines is expected to lead to a capital investment of around Rs 344.86 billion.