The Ministry of Coal has announced an extension of the bid submission deadline for the ongoing 7th round of Commercial Coal Mine auctions. The new deadline for bid submission is June 27, 2023, which has been extended by 28 days from the original deadline of May 30, 2023. This extension comes in response to requests received from a large number of potential bidders.
The objective of the auction is to create additional production capacity in the coal sector. So far, the Coal 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 started production, with a cumulative PRC of 195 MTPA.
In the ongoing financial year, the production from captive and commercial mines has reached 16.25 million tonnes (MT) as of May 22, 2023. This represents 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 terms of land availability, environment and forest clearances, assistance from financial institutions, and inter-agency coordination. The Ministry of Coal has set a target of 162 MT production from captive and commercial mines during this financial year.
