By Anurjay Dhal
BHUBANESWAR: Jharkhand’s Chaibasa Headquarters’ Siddhartha Rungta led Rungta Sons Pvt Ltd emerged as top bidder for ‘South of Damuda’ Commercial Coal Block in Jharkhand on Tuesday.
RSPL won the block by offering to pay 21.25% premium to Government. The auction for the block started at a reserve price of 4% while Rungta Sons Pvt Ltd emerged as the top bidder at the close of the auction, a senior Coal Ministry official said.
On the First day, 8 coal mines were put up for auction of which 5 coal mine were CMSP coal mine and 3 coal mines were MMDR coal mines. Four of the eight mines are fully explored while the other four mines are partially explored coal mines. The total geological reserves for these 8 coal mines are 1,721.44 Million Tonnes.
These coal mines upon operationalization will generate Annual Revenue of ~Rs. 652 crores calculated at PRC of these coal mines (excluding Partially Explored coal mines). These mines will attract capital investment of ~Rs. 630 crores and will provide employment to ~5,678 people.
Ministry of Coal had launched the auctions of coal mines for commercial mining under 9th round on December 20, 2023 and 8th round on November 15, 2023. After evaluation of bids, forward e-auctions for thirteen mines were commenced from 12.03.2024.
Other 7 companies which were emerged as top bidder for their respective coal blocks included JK Cement Ltd(Mahan Coal block Madhya Pradesh), Mahan Energen Ltd,( Mara II Mahan coal block Madhya Pradesh), Sunflag Iron and Steel Company Limited (Thesgora-B/Rudrapuri coal block in Madhya Pradesh), JMS Mining Private Limited(Binodpur Bhabhaniganj coal block in West Bengal), , Nilkanth Infra Mining Limited(Marki-Zari-Zamani-Adkoli coal block in Maharashtra), S M Steels and Powver Limited(Dumri coal block in Jharkhand) and Bull Mining Private Limited (Duni Central coal block in Jharkhand).
