Six mines to generate annual revenue of Rs.787.59cr
The Coal Ministry expects Rs.1,050 crore investment in the six agreements signed for coal mines under Commercial Mining in 7th round of auctions on 29 Sept 2023, anticipating annual revenue of approximately Rs.787.59 crore.
Out of these six coal mines, four mines have undergone partial exploration and the other two are fully explored.
The agreements were signed for mines — Meenakshi West, North Dhadu (Eastern Part), North Dhadu (Western Part), Pathora East, Pathora West and Sherband.
The Successful Bidders encompasses notable entities such Hindalco Industries Limited, NTPC Mining Limited, NLC India Limited, Shri Bajrang Power & Ispat Limited and Nilkanth Mining Limited.
The revenue-sharing percentages for the successful bidders of the six mines range from 6% to 43.75%, with an average revenue share of 23.71%.
SBI Capital Markets Limited, an exclusive Transaction Advisor to the Ministry of Coal for the Commercial Coal Mine auction, played a pivotal role in formulating the methodology and ensuring the successful execution of the auction process. Fiinews.com
