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The Jharkhand government can expect an annual revenue of up to ₹1,415.85 crore from the auction of Urma Paharitola coal mine. This is the maximum annual revenue any state earns from a mine, amongst those auctioned in the current round under the commercial coal mining regime.
This mine was won by Aurobindo Realty and Infrastructure that outbid Adani Power Resources, Adicorp Enterprises, India Coke and Power, JMS Mining, and Welspun Steel -- who were in the fray. Aurobindo Realty and Infrastructure had quoted a winning bid of 26.50 per cent revenue share.
The Radhikapur East coal mine in Odisha was also offered for bidding on the fifth day of the commercial mining auctions. EMIL Mines and Minerals Resources outbid Adani Enterprises, Jindal Steel and Power, and National Aluminium Company to bag this coal mine. Bidding for the mine closed at a quote of 16.75 per cent revenue share.
The total geological reserves of the mines put up for auction are approximately 755.63 million tonnes with a cumulative peak rated capacity of around 15 million tonnes per annum.
Under the commercial coal mining bid rounds, companies are competing on the share of revenue they would share with the State government to bag a coal mine. There is no end-use restriction on the coal that is excavated from these mines.
The Ministry of Coal has auctioned 17 mines till now in bidding rounds that began on Monday (November 2). In all, the centre will be auctioning 19 mines for commercial coal mining by November 9.
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