Indian coal ministry has sanctioned the allotment of 5 coal mines to the successful bidders, what has been the first allocation witnessed after a gap of 4 years.
The auction process which was initiated with sales of 27 coal mines for non-regulated sector had eventually seen only 6 of them entering the electronic round of auction and the highest bidders for the respective mines were identified.
However, upon approval it was revealed that decision on Gare Palma IV/1 block has not been taken yet. On the other hand, the remaining 5 mines were granted for allotment to the successful bidders.
Meanwhile, JSPL who was the highest bidder for Gare Palema IV/1 coal mine, has remained confident that the decision would be taken in their favour soon, as per media reports.
| Coal Mine | Extractable Reserves (MnT) | Grade | Peak Rated Capacity (in MnTPA) | Successful Bidder |
| Bikram | 9.44 | G-8 | 0.36 | Birla Corporation Limited |
| Brahampuri | 12.343 | G-6 | 0.36 | Birla Corporation Limited |
| Bhaskarpara | 24.06 | G-7 | 1 | Prakash Industries Limited |
| Jagannathpur B | 50.02 | G-10 | 0.8 | Powerplus Traders Private Limited |
| Jamkhani | 114.98 | G-11 | 2.6 | Vedanta Limited |
The current scheme of allocation had come with an additional benefit of allowing the owners to sell 25% of the total coal produced in the open market, aimed to boost coal output in the country and reduce the dependence of industries on imported coal.
Besides, it is also envisaged that the step would generate huge revenue for state governments where the mines are located in the form of upfront amount, royalties and other applicable taxes.
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