Commercial mining: Auction of coal blocks can fetch Rs 20,000 crore revenue per year

New Delhi (Natural Energy News): Auction of coal blocks for commercial mining could yield revenue of around Rs 20,000 crore per year, a coal official of the ministry said.

Auction of 38 coal blocks for commercial mining is under process.

"The total earnings for a year are predicted to be around Rs 20,000 crore and the capital investment is around Rs 33,000 crore," the official said.

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"One year's earnings (for 41 coal mines with 225.53 peak rated capacity) is evaluated and it has an earnings stake of four percent, ie floor price, royalty, NMET, DMF .... which is the highest valuation. Capacity (PRC) is calculated, assessing the democratic price the regular class of the coal mine, ”he said.

He said the capital investment is calculated at Rs 150 crore per million tonnes (MTPA) for the PRC, including withdrawals.

On the government's claim that the auction of the block will provide employment to more than 2.8 lakh people, the official said that employment generation is calculated at 5,000 tonnes/year, 30 percent per employee production. . "

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The official said, about 30 percent of manpower will be linked to infrastructure like washer, railway siding etc. and indirect employment is three per direct employment.

When the Center began auctioning blocks for commercial mining in June, it said it would put the sale on 41 blocks. But later, the list of blocks for auction was exceeded to a total of 38 blocks.

Vedanta, JSPL, Adani Enterprises, Hindalco Industries, JSW Steel and Nalco are among 42 companies that have bid for 23 coal blocks, which were put up for auction under commercial mining.

"A total of 76 proposals have been accepted for 23 coal mines ... A total of 42 corporations have proposed their proposals in the auction process," the Coal Ministry said in an earlier statement.

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The biggest proposals (seven) were introduced by Adani Enterprises, followed by Hindalco Industries and JMS Mining (five each).

Aurobindo Reality and Infrastructure, EMIL Mines and Mineral Resources and Andhra Pradesh Mineral Development Corporation (APMDC) submitted four bids each.

Vedanta Limited submitted three bids, Jindal Steel and Power Limited (JSPL) two, JSW Steel and Nalco one each, among others.

Out of a total of 76 bids, the highest bids were made for Gottitoria (East) and Gottoria (West) and Gare Palma IV / 7 coal blocks (eight bids each), followed by six for the Brahmadih and Uru Pahaditola mines. She spoke.

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The Ministry had said that two or more bids have been received for 19 coal mines.

The bid will be analyzed by a multi-disciplinary specialized examination council, and technically authorized bidders will be selected for taking part in the e-auction to be held on the MSTC portal from 19 October.

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