Union Minister Shri Pralhad Joshi calls upon PSUs to compete with Private Sector in Coal Mine Auction & Production
Inaugurates National Coal Conclave & Exhibition -2022 in Delhi
Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi urged the public sector undertakings (PSUs) to compete with the private sector in coal mine auction and early production. Addressing the National Coal Conclave & Exhibition-2022 here today, the minister pointed out that despite the unprecedented increases in international prices, Coal India Ltd (CIL) did not increase domestic coal prices and stepped up coal production substantially in the recent past and managed to overcome coal shortage faced by thermal power plants.
Shri Joshi said that 64 coal mines have been successfully auctioned so far under commercial auctioning launched in 2020. The minister added that all efforts are in full swing to stop the import of thermal coal by 2024 and incentives are being given for early production of coal under commercial auctioning. Highlighting healthy performance by CIL, the minister said that captive mines are likely to produce 125 million tons (MT) of coal this year.
During the conclave, the Ministry of Coal executed agreements with 10 successful bidders of coal mines under the sale of coal for the 15th tranche and the second attempt for the 13th and 14th tranches. The mines for which Coal Mine/ Block Production and Development Agreements were executed are Kasta (East), Marki Barka, Barra, Koyagudem Block III, Maiki North, Alaknanda, Basantpur, Bandha North, Marki Mangli IV and Jaipur.
Coal Ministry Executes Agreements with Ten Successful bidders of Coal Mines
The successful bidders include Jitusol Developers Private Limited, Birla Corporation Limited, Bharat Aluminium Company Limited, Auro Coal Private Limited, Maiki South Mining Private Limited, Rungta Sons Private Limited, Gangaramchak Mining Private Limited, Jaiprakash Power Ventures Limited, Sobhagya Mercantile Limited and Terri Mining Private Limited.
The total annual revenue generation from these 10 coal mines is estimated at Rs.1077.67 crore considering production at aggregated Peak Rate Capacity level of 10.39 million tons per annum. Once fully operational, these mines are expected to generate employment for 14,047 persons directly and indirectly. A total investment of Rs.1558.50 crore will be expended to operationalise the mines. The winning percentage revenue share for these mines are ranging from 5% to 15.75% with an average percentage revenue share of 6.48%.
Under the patronage of the Ministry of Coal, Indian National Committee World Mining Congress has organised the first ever National Coal Conclave & Exhibition – 2022 on the theme “Indian coal sector-sustainable mining towards Aatmanirbhar Bharat.
Sixty Four Mines Successfully Auctioned So far
Secretary, Ministry of Coal Dr Anil Kumar Jain, Secretary, Ministry of Mines Shri Vivek Bharadwaj and CMD, Coal India Ltd. Shri Pramod Agrawal addressed the Conclave that saw the active participation of policymakers, public and private sector mining companies, researchers, academicians and other stakeholders interacting to prepare the road map needed for Indian coal sector to align it with National Mission of Aatmanirbhar Bharat. Besides senior functionaries of the ministries of Coal, Mines, Power, Steel, Disaster Management, and coal mining companies about 150 students of the Mining Engineering sector also participated in the conclave.
The focus area of the technical sessions and debates centred around three major subjects fuel self-sufficiency in the power sector, Aatmnirbharata in steel making for coal and technology & sustainability.
The fascinating and informative exhibition showcased the initiatives of the coal mining sector for the induction of technology, sustainable development, IT initiative, best practices in mining safety etc. The latest technologies and IT–enabled tools used by the Indian coal mining sector were also on display.
Disclaimer: This is an official press release by PIB.
