By Our Correspondent
BHUBANESWAR/NEW DELHI: Union Coal, Mines and Parliamentary Affairs Minister Pralhad Joshi in a series of tweets on Saturday, claimed that 30 Coal Blocks auctioned so far likely to generate Rs 8150 Crore annual revenue.
Auction of Lalgarh coal mine in Jharkhand and Beheraband North Ext in Madhya Pradesh has been successfully completed under 2nd tranche of commercial mining, with blocks receiving 48.5% and 9.5% premiums respectively, Joshi said.
Adhunik Power and Natural Resources Ltd offered 48.50% premium for Lalgarh (North) in Jharkhand while Auro Coal Private Ltd offered 9.50 % for Beheraband North Extn in Madhya Pradesh.
So far, 30 coal blocks have been successfully auctioned earning 27.8% average premium. This shows strong demand for coal mines in market. These auctioned mines will generate annual revenue of more than Rs 8150 crore & provide more than 85,400 employment opportunities, the Union Minister said.
Commercial coal mine auction has witnessed strong competition and several first-time participants from the ‘non-end user’ category have also emerged as successful bidders. Commercial coal mining will bring in more efficiency and technological advancement in the mining industry, he added.
