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The coal ministry is expected to hold the next round of commercial coal mine auctions on May 10, with 30 additional blocks available. The ministry has received clearance from the Election Commission of India for the auction, according to a senior government official, referring to the 2024 general elections, which begin today.
The auction will also include 50 mines that received no response in earlier rounds, according to the official. The official stated, "It will take two months to receive bids for the mines." The government aims to increase domestic coal production while decreasing imports, with commercial miners playing a key role.
Captive and commercial mines produced 147 million tonnes (MT) of coal in FY24, an increase of nearly 48%. Production is likely to breach 170 MT this fiscal, the official added. As per the ministry, the coal production target for FY30 has been set at around 1.5 billion tonnes.
In the last forward auction held in March, JK Cement bid the highest for the Mahan coal mine in Madhya Pradesh. Rungta Sons Pvt. Ltd pipped JSW Steel Ltd to clinch South of Damuda in Jharkhand. Bull Mining bid highest for Jharkhand's Duni Central, where Tata Steel was also a contender.
The coal ministry launched auctions of mines for commercial mining under the ninth round on December 20 and the eighth round on November 15. The coal ministry earlier said it is taking strategic initiatives for sustainable development and self-reliance in the energy domain. Coal minister Pralhad Joshi said earlier that his ministry would ask imported coal-brd power plants to consider switching to domestic fuel-brd design and technology as electricity production in India is set to rise. The ministry is aiming for zero thermal coal imports by FY26.
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