By Anurjay Dhal
BHUBANESWAR: The auction started for Geological Reserves of 500 MT Sakhigopal B Kankili Coal Block in Odisha at floor price of 4.00% while Rungta Sons Pvt Ltd, a subsidiary of Jharkhand’s Chaibasa Headquarters, Ruungta Mines Ltd Group, emerged as top bidder while committing to pay 6.50%, the Union Coal Minister said on Tuesday. This was second coal block in Odisha, which Rungta Sons Pvt Ltd won in the commercial auction.
Earlier, Rungta Sons Private Limited had won Chendipada Coal Block in Odisha’s Angul district, which has Geological Reserves of 513.09 (MT). The auction had started for the block at a floor price of 4% and closed at 13% with Rungta Sons Pvt Ltd bidding the highest and had emerged as to top contender for the coal block in Odisha.
Gujarat Mineral Development Corporation Ltd wins Baitarni West coal block in Odisha. Auction for the block , which has Geological Reserves of 1,152.11, (MT) started at a floor price of 4.00% while Gujarat Mineral Development Corporation Ltd emerged as top bidder with 33.50% final offer.
In today’s auction, 1 coal mine is fully explored coal mine and 1 coal mine is Partially Explored coal mine. The total geological reserves for the coal mines are ~ 1,652 Million Tonnes.Cumulative PRC for the coal mines is 15 MTPA (excluding Partially Explored coal mine)
These coal mines upon operationalization will generate Annual Revenue of ~Rs.2,873 crores (excluding Partially Explored Sakhigopal B Kankili coal mine) calculated at PRC of the coal mine. These mines will attract capital investment of ~Rs.2,250 crores and will provide employment to ~20,280 people.
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 8th day of the e-auction, 2 coal mines were put up for auction of which 1 was CMSP coal mine and 1 was MMDR coal mine.
