ShreeMetalPrices: Coal Ministry successfully auctioned additional coal blocks for commercial mining


The 29 coal blocks successfully auctioned out for commercial mining by the govt are estimate to increase average dry fuel production by 7percent over the next 2 years. Since the combined PRC of these deposits is roughly 91 million tonnes.

According to reports. The 91 million tonne (PRC) of the 29 coal blocks that have been put up for bid would represent an addition of 7% to the current average national PRC of coal reserves.

According to sources, all 29 reserves that the Coal Ministry had placed at auction for commercial mine last month had been purchased. They noted that the final of the 29, mines was successfully auctioned out earlier in the day.

The government anticipates that all 29 mines will start operating by 2024–2025, or within the coming two years. And that their combined production will increase the country’s median output by a extra 7%.
On November 3, 2022, the ministry began the sixth round of the auction for the commercial mining of coal reserves and the second attempt of the fifth round.

On February 27, forward auction for these coalmines had begun.
PRC refers to a coal mine’s maximum production capacity, or, to put it another way. The most coal that can be extracted from it each year.

Without any constraints on final use, commercial mining enables the private industry to mine coal for profit. Private companies will have the choice of gasifying the coals or exporting it. They can also sell them in market place.