Govt targets to earn Rs 36,562.30 crore revenue from coal blocks auction

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New Delhi: The government targets to earn Rs 36,562.30 crore in revenue over the next 10 years through the auction of 22 coal mines located in Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra and Odisha, Union Minister of Coal, Mines and Parliamentary Affairs Pralhad Joshi said on Monday.

In a written reply to a question in the Rajya Sabha, Joshi said, "Since the launch of Commercial Coal Mining auction in June 2020, auction process of 47 coal mines have been successfully conducted. Out of these 47 coal blocks, auction of 1 coal mine was cancelled since the preferred bidder did not comply with the conditions and vesting order has been issued for 27 coal mines. Only 2 coal mines located in state of Chhattisgarh have become operational and the revenue earned, including taxes and royalties, by Chhattisgarh Government from these 2 coal mines is about Rs 182 crore."

The cumulative peak rated capacity (PRC) for all 46 auctioned coal mines is 101.04 MTPA. In accordance with the efficiency parameters specified in the CMDPA which are to be adhered by the Successful Bidders, time limit for obtaining the Mine Opening Permission is 66 months in case of mine where Geological Report (GR) is to be prepared (Partially Explored Mines) and 51 months in case of mines where GR is available (Fully Explored Mines).

Upon obtaining the Mine Opening Permission, the bidders will have to follow the production schedule as approved, for achieving the PRC of the coal mine, the minister said. (ANI)

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