Speed Post News Network
New Delhi : Coal Mines are not identified for auctioning exclusively to private sector companies. As per the provisions of the Coal Mines (Special Provisions) Act, 2015 [CMSP Act] and the Mines and Minerals (Development and Regulation) Act, 1957 [MMDR Act], both government and private sector companies are eligible to participate in the auction process.
Auction of coal mines is a continuous process. So far, 46 coal mines have been successfully auctioned of which 44 coal mines have been auctioned to private sector companies.
A total of 67 coal mines have been offered in the current tranche of auction for sale of coal (23 coal mines under CMSP Act and 44 coal mines under MMDR Act). The auction process is underway, according to a PIB release.
Annual Revenue likely to be generated from 20 mines recently auctioned for sale of coal at Peak Rated Capacity of Mine is around Rs 7,419 Crore. Total employment estimated to be generated from these 20 mines is 79,019. This information was given by Parliamentary Affairs, Coal and Mines Minister Pralhad Joshi in Rajya Sabha on July 26, 2021.