By Our Correspondent
BHUBANESWAR: Gujarat Mineral Development Corporation Ltd was on Saturday bid highest percentage and emerged as top bidder for Burapahar Coal Block in Odisha, auction of which ended shortly with GMDCL bidding 40.75% from floor price of 4.00%.
The coal mine is a fully explored coal mine. The total geological reserves for the coal mine is ~ 548 Million Tonnes.PRC for the coal mine is 6 MTPA.
This coal mine upon operationalization will generate Annual Revenue of ~Rs. 1,308 crores calculated at PRC of the coal mine. The mine will attract capital investment of ~Rs. 900 crores and will provide employment to ~8,112 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 6th day of the e-auction, 1 coal mine was put up for auction which was MMDR coal mine.
