JSPL, Jindal Power Win Coal Mines in 11th Auction

New Delhi, Mar 24 (PTI) Jindal Steel and Power Ltd (JSPL), Jindal Power and Coal India-arm Western Coalfields Ltd are among the 10 companies that have bagged coal blocks in the 11th round of commercial mines auction, according to an official release.

The government launched the 11th round of coal mine auctions for commercial mining in December last year. A total of 27 blocks were put on sale.

Jharkhand Exploration and Mining Corporation, Innovative Mines and Minerals, Singhal Business, Pra Nuravi Coal Mining, Mineware Advisors, Rungta Sons, and New Era Cleantech Solution are the other companies that have secured coal mines in the auction.

"Ministry of Coal has launched the 11th round of coal mine auctions for commercial mining on December 5, 2024...In the forward auctions, a total of 12 coal mines were successfully auctioned, comprising eight fully explored mines and four partially explored coal mines," the coal ministry said in a statement.

These 12 mines collectively hold a geological reserve of approximately 5,759.23 million tonne, with a cumulative Peak Rated Capacity (PRC) of 15.46 million tonne per annum (MTPA), excluding partially explored mines.

"The auctions witnessed intense competition, achieving an impressive average revenue share of 36.27 per cent, reflecting the sustained interest of industries in India's coal sector and the ministry's commitment to providing a stable and transparent policy framework," the statement said.

The mines are projected to generate an annual revenue of Rs 3,330 crore (excluding partially explored mines) and attract a capital investment of approximately Rs 2,319 crore.

Additionally, these mines are expected to create 20,902 employment opportunities. Since the inception of commercial coal mining in 2020, the Centre has auctioned a total of 125 coal mines, with a combined production capacity of 273.06 MTPA.

Collectively, these mines are expected to generate an annual revenue of Rs 38,767 crore, attract a capital investment of Rs 40,960 crore, and create employment opportunities for approximately 4,69,170 people.