Combined Coal Reserves Comes to 779 Million Ton – EQ Mag

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Combined Coal Reserves Comes to 779 Million Ton – EQ Mag

March 3, 2023 Anand Gupta

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Ministry of Coal had launched the auctions of coal mines for commercial mining under 6th round and second attempt of 5th round on November 03, 2022. Forward auctions for these mines have been started on 27.02.2023 and on the 4th day of the e-auction, two coal mines were put up for auction and both coal mines were MMDR coal mines. Further details of the coal mines are as under: –

Both coal mines are fully explored mines;
The total geological reserves for these two coal mines are ~ 779 Million Tonnes.
Cumulative PRC for these coal mines is 5.48 MTPA

The results for Day 4 are as under:

S. No.	Name of the Mine	State	PRC (MTPA)	Geological Reserves (MT)	Closing Bid Submitted by	Floor Price (%)	Final Offer (%)
1	Arjuni (Eastern Part)	Madhya Pradesh	1.36	106.124	E-Auction going on.
2	Gondbahera Ujheni	Madhya Pradesh	4.12	672.870	MP Natural Resources Private Limited	4.00%	7.00%

.*For Arjuni (Eastern Part) coal mine, the e-auction process was going on.

These coal mines upon operationalization will generate Annual Revenue of ~Rs. 620 crores calculated at PRC of these coal mines (excluding Arjuni (Eastern Part) coal mine). These mines will attract capital investment of ~Rs. 822 crores and will provide employment to ~7409 people.