6 Coal Mines Start Production Under Commercial Auctions, Three Likely To Start Operation Soon
The ministry of coal on Friday said six coal mines will start production under commercial auctions and three are likely to start operation soon. Over three years, the ministry has auctioned 91 mines, six of which are currently operational and three of which are about to begin operations.
The ministry in a press release said, “Commercial coal mining is expected to bring new investments to the country and the entire revenue from the auctions would be allocated to the coal-bearing States of Jharkhand, Chhattisgarh, Odisha, Madhya Pradesh, Maharashtra, West Bengal, Andhra Pradesh, Telangana, Arunachal Pradesh, Bihar and Assam.”
Meanwhile, the ministry added that the auction of 31 coal mines in Jharkhand, Chhattisgarh, Madhya Pradesh and Telangana forecasts substantial annual revenue estimated at Rs. 33,343 crore.
This revenue, stemming from a Peak Rate Capacity of 220.90 million tonne per annum, foresees a considerable uptick once mining operations hit full stride.
Further, it also suggested that the benefits go beyond monetary gains, presenting commercial coal mining as a stimulus for new investments and reviving India's economy. These auctions have the potential to directly and indirectly employ nearly three lakh people, which goes beyond the financial implications.
