The Ministry of Coal has announced an extension for the submission of bids in the ongoing 7th round of Commercial Coal Mine auctions. The new deadline for bid submission is now set for June 27, 2023, which is 28 days later than the previous deadline of May 30, 2023. This extension was granted in response to numerous requests received from potential bidders.
The objective behind this extension is to attract a larger pool of potential bidders and encourage increased participation in the auction process. The Ministry aims to create additional production capacity in the coal sector through the allocation and auctioning of coal mines.
So far, the Ministry has allocated or auctioned 133 mines, with a cumulative Peak Rated Capacity (PRC) of 540 million tonnes per annum (MTPA). Out of these, 48 coal mines have already commenced production, with a cumulative PRC of 195 MTPA.
In the current financial year, up until May 22, 2023, the production from captive and commercial mines has reached 16.25 million tonnes (MT), reflecting a significant growth of 10.2% compared to the 14.75 MT produced during the same period last year.
To facilitate the early development of coal mines by private players, the Ministry is providing support in various aspects. This includes assistance in terms of land availability, environment and forest clearances, and coordination among different agencies. The Ministry of Coal has set a production target of 162 MT from captive and commercial mines for the current financial year.