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Birla, Prakash Inds, Powerplus Traders and Vedanta Bag 5 Coal Mines in Auction

Coal News - Published on Fri, 06 Dec 2019

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After a long gap of 4 years, India’s Ministry of Coal has approved the allocation of five coal mines. This was the result of the electronic auction conducted by Ministry of Coal in first week of November 2019 when ministry had initiated the auction processes for 27 coal mines for non-regulated sectors. The significant feature of the allocations is that for the first time, the successful bidders shall have the flexibility to sell 25% coal produced in the open market.

The details of the five Coal Mines allocated are
Coal MineStateSuccessful BidderExtractable ReservesGradePRCFinal PriceRevenue for 30 years
BikramMPBirla Corporation Limited9.4G-80.36154166
BrahampuriMPBirla Corporation Limited12.3G-60.36156168
BhaskarparaChhattisgarhPrakash Industries Limited24.1G-71.0011003300
Jagannathpur BWest BengalPowerplus Traders Private Limited50.0G-100.80185444
JamkhaniOdishaVedanta Limited115.0G-112.60167413057

Extractable Reserves – In million tonnes
PRC – Per million tonne per annum
Final Price – INR per tonne
Revenue - Excluding royalties, levies, and applicable taxes

Coal Ministry had received only 6 bids in November coal block auction and this announcement does not cover JSPL bid for Gare Palma IV/1

DayCoal BlockReserve PriceHighest bidBidder
Day 1BikramRs 150/tRs 154/tBirla Corp
Day 2Gare Palma IV/1Rs 150/tRs 230/tJSPL
Day 3BrahmapuriRs 154/tRs 156/tBirla Corp
Day 4BhaskarparaRs 234/tRs 1,100/tPrakash Industries
Day 5Jagannathpur BRs 171/tRs185/tPowerplus traders
Day 6JamkhaniRs 1002/tRs 1674/tVedanta

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Posted By : Rabi Wangkhem on Fri, 06 Dec 2019
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