Ministry of Coal has issued vesting orders for a total of 22 mines
14 Jun 2023
2 Min Read
CW Team
The Ministry of Coal has issued vesting orders for 22 auctioned coal blocks, signalling a significant milestone in the sector. These coal blocks are expected to attract a capital investment of Rs 79.29 billion and generate annual revenue of Rs 98.31 billion, according to a statement from the ministry. Furthermore, the mines are projected to create approximately 71,467 direct and indirect job opportunities. M Nagaraju, the Additional Coal Secretary and Nominated Authority of the Ministry of Coal, issued the vesting orders to successful bidders of the coal blocks in the national capital, as stated in the announcement. Out of the 22 coal mines, 11 fall under the purview of the Coal Mines (Special Provisions) Act, 2015, while the remaining mines operate under the Mines & Minerals (Development and Regulation) Act, 1957. Among them, 16 coal mines have been fully explored, while the remaining six are partially explored, as confirmed by the ministry.
The cumulative peak rated capacity (PRC) of these 22 coal mines amounts to 53 million tonnes per annum (MTPA), with geological reserves estimated at approximately 6,379.78 million tonnes (MT). The ministry highlighted that these mines are projected to generate annual revenue of Rs 98.31 billion and attract a capital investment of Rs 79.29 billion. Additionally, they are expected to create employment opportunities for approximately 71,467 individuals, both directly and indirectly.
With the vesting of these 22 coal mines, the coal ministry has now issued vesting orders for a total of 73 coal mines through commercial auctions, with a cumulative PRC of 149.304 MTPA. This achievement will result in annual revenue generation of Rs 230.98 billion for state governments and create employment opportunities for 201,847 individuals, both directly and indirectly, according to the ministry's statement.
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The Ministry of Coal has issued vesting orders for 22 auctioned coal blocks, signalling a significant milestone in the sector. These coal blocks are expected to attract a capital investment of Rs 79.29 billion and generate annual revenue of Rs 98.31 billion, according to a statement from the ministry. Furthermore, the mines are projected to create approximately 71,467 direct and indirect job opportunities. M Nagaraju, the Additional Coal Secretary and Nominated Authority of the Ministry of Coal, issued the vesting orders to successful bidders of the coal blocks in the national capital, as stated in the announcement. Out of the 22 coal mines, 11 fall under the purview of the Coal Mines (Special Provisions) Act, 2015, while the remaining mines operate under the Mines & Minerals (Development and Regulation) Act, 1957. Among them, 16 coal mines have been fully explored, while the remaining six are partially explored, as confirmed by the ministry.
The cumulative peak rated capacity (PRC) of these 22 coal mines amounts to 53 million tonnes per annum (MTPA), with geological reserves estimated at approximately 6,379.78 million tonnes (MT). The ministry highlighted that these mines are projected to generate annual revenue of Rs 98.31 billion and attract a capital investment of Rs 79.29 billion. Additionally, they are expected to create employment opportunities for approximately 71,467 individuals, both directly and indirectly.
With the vesting of these 22 coal mines, the coal ministry has now issued vesting orders for a total of 73 coal mines through commercial auctions, with a cumulative PRC of 149.304 MTPA. This achievement will result in annual revenue generation of Rs 230.98 billion for state governments and create employment opportunities for 201,847 individuals, both directly and indirectly, according to the ministry's statement.
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