PSU should compete with private coal mine auctions: Pralhad Joshi | Catch My Job

In the speech at the National Coal Conference and Exhibition The minister said that despite the unprecedented rise in global prices, Coal India Ltd (CIL) did not raise domestic coal prices. State-owned miners have dramatically increased production in recent times. and managed to overcome the shortage of coal facing thermal power plants.

Joshi said 64 coal mines have been successfully auctioned so far under commercial auctions launched in 2020. “All efforts are in efforts to halt imports of thermal coal by 2024, and there has been Provide incentives for early coal production under commercial auctions. The captive mines are likely to produce 125 million tonnes of coal this year.”

“During the meeting The ministry has reached an agreement with 10 successful coal miners bidders under the coal sale of the 15th batch, and the second attempt of the 13 and 14 mines at the coal mine/production and development block was carried out. The agreements are Kasta (East), Marki Barka, Barra, Koyagudem Block III, Maiki North, Alaknanda, Basantpur, Bandha North, Marki Mangli IV and Jitpur,” the coal ministry said. in a press release

The winning bidders were Jitusol Developers Private Limited, Birla Corporation Limited, Bharat Aluminum Company Limited, Auro Coal Private Limited, Maiki South Mining Private Limited, Rungta Sons Private Limited, Gangaramchak Mining Private Limited, Jaiprakash Power Ventures Limited, Sobhagya Mercantile Limited and Terri. Mining Private Company Limited.

“The total annual revenue generation from these 10 coal mines is approximately Rs. 1077.67 crore considering production at the highest rate of total capacity of 10.39 million tonnes per annum once fully operational. These mines are expected to generate employment for 14,047 people directly and indirectly. A total investment of Rs 1558.50 ten crores will be used to operate the mines. The winning percentage revenue share for these mines ranges from 5% to 15.75 percent, with an average revenue share of 6.48%,” the ministry added.

The meeting saw the active participation of policymakers. Government and private mining companies, researchers, academics and other stakeholders are interacting with each other to prepare the necessary roadmap for India’s coal sector to align with the national mission of India. ‘Aatmanirbhar Bharat’, in addition to senior practitioners at the Ministry of Coal, Mining, Energy, Steel, Disaster Management, About 150 coal mining companies in the mining engineering sector also attended the meeting.

The topics of the technical conference and discussion centered on three main themes on fuel sufficiency in the energy sector. ‘Aatmnirbharata’ in steelmaking for coal and technology and sustainability