Coal Ministry gives vesting orders for 22 mines; expected to fetch Rs 7,929 crore

9 Jun 2023 , 10:17 AM

The Ministry of Coal issued vesting orders for 22 auctioned coal blocks on Thursday, expected to generate Rs 7,929 crore in capital investment.

The mines will also bring in Rs 9,831 crore in annual revenue and 71,467 direct and indirect job opportunities, according to a statement from the Ministry.

M Nagaraju, additional coal secretary, issued vesting orders for 22 coal mines. These orders have been issued to successful commercial coal block bidders under the coal mine auction in the national capital.

The Ministry highlighted that 11 mines come under the purview of the Coal Mines (Special Provisions) Act, 2015, while the balance 11 mines fall under Mines & Minerals (Development and Regulation) Act, 1957. Further, out of these, 16 coal mines are explored fully while the remaining 6 mines are explored partially. 

These 22 coal mines have a cumulative peak rated capacity (PRC) of 53 million tonne per annum (MTPA) and have geological reserves of about 6,379.78 million tonnes (MT).

With the vesting of these 22 coal mines, the coal ministry has issued vesting orders for 73 coal mines under commercial auctions, having an aggregate PRC of 149.304 MTPA.

This will generate an annual revenue of Rs 23,097.64 crore for state governments and provide employment opportunities for 2,01,847 people, both directly and indirectly, said the Ministry in its statement.

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