Govt issues allocation order for 12 coal mines, annual revenue ₹3,569 crore expected
Premium- The government has issued the allocation order for 12 coal mines that are expected to generate annual revenue of ₹3,569 crore
The Central government on Monday issued the allocation orders for 12 coal mines that are expected to generate annual revenue of ₹3,569 crore. For the coa12 coal mines, the Coal Mine Development and Production Agreement (CMDPA) were signed on 17 August, 2022.
Of the 12 coal mines, seven mines are under Coal Mines (Special Provisions) Act, 2015 and five coal mines are under Mines and Minerals (Development and Regulation) Act, 1957, according to a press release.
The Coal Ministry has said that the cumulative PRC of the 12 coal mines for which allocation orders have been issued is 21 million tons per annum (MTPA). The Geological Reserve is 2,300 million tons (MT).
“These mines are expected to generate an Annual Revenue of Rs.3,569 crores calculated on the basis of PRC and will attract Capital Investment of Rs.3,208 crores. It will provide employment to approximately 28,800 people both directly and indirectly," the Coal Ministry said in a statement.
The Union ministry said that with the vesting/allocation of these 12 coal mines, vesting/allocation orders have been issued for total 39 coal mines under commercial auctions with a cumulative PRC of 83.10 MTPA.
“This will result in the generation of Annual Revenue of ₹11,380 crores calculated on the basis of PRC of the coal mine to the state government and will generate employment for 1,12,344 people both directly and indirectly," the ministry further added.
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