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Coal Ministry Announces Auction of 40 New Mines

The offered mines are spread across 10 coal-bearing states.

Image Used for Representational purposes only. (Source: Coal India)

New Delhi: Amid reports of coal shortage in the country’s power plants, the Ministry of Coal on Tuesday launched the auction process of 40 new coal mines in which 21 new mines are under the Coal Mines (Special Provisions) Act 2015 and 19 are under the Tranche three of Mines and Minerals (Development and Regulation) Act 1957.

With coal mines rolling over from previous tranche (28), a total of 88 coal mines on offer.

The ministry in its official release added that total geological resources of about 55 billion tonnes of coal are on offer from these 88 mines, of which 57 are fully explored mines and 31 are partially explored mines. There are four coking coal mines on offer, it added.

Addressing a press meet on Wednesday, Union Minister of Coal, Mines and Parliamentary Affairs, Pralhad Joshi stressed that the Ministry of Coal and the Government of India are on a continuous journey to reform the coal sector and unlock values for the nation’s economy under the leadership of Prime Minister Narendra Modi.

READ ALSO: Coal Crisis: Govt Allays Blackout Fears, Oppn Alleges Shortage ‘Artificial’; Top Developments

The offered mines are spread across 10 coal-bearing states of Jharkhand, Chhattisgarh, Odisha, Madhya Pradesh, Maharashtra, West Bengal, Andhra Pradesh, Telangana, Arunachal Pradesh and Assam.

Joshi further elaborated on the energy consumption pattern of the country and how the demand for power has increased by around 20 per cent compared to pre-Covid times.

ALSO SEE: Coal Crisis: Govt Set To Increase Production To 2 Million Tonnes A Day Next Week

“India is currently one of the lowest in terms of per capita consumption of power as compared to the developed countries and that the power demand of the country is expected to be doubled by the year 2040 owing to the major steps taken by the Government in connecting the remotest of the places with power and reiterated that the coal will continue to play a major part in the energy mix of the country for next 35-40 years,” he was quoted by ANI saying.

He also announced that the rebate of 20 per cent on the final offer on sale or consumption of coal for coal gasification or liquefaction, may be increased.

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The commencement of sale of tender document will start from October 12, 2021. Details of the mines, auction terms, timelines etc. can be accessed on MSTC auction platform. The auction will be held online through a transparent 2 stage process, on the basis of Percentage Revenue Share.

This round of auction will be the 13th Tranche of auction under CMSP Act and 3rd Tranche of auction under MMDR Act.

(With inputs from ANI)

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