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JSW Steel, Tata Steel, ACC Ltd and JK Cement Ltd are among the prominent companies vying for coal mines in the latest round of coal mine auctions, which encompassed the ninth round and the second attempt for the seventh round. A total of 27 mines were put up for auction in the ninth round, with bids received for 13 mines. Additionally, bids were invited for five coal mines in the second attempt of the seventh round, receiving seven bids against three coal mines.
Dumri in Jharkhand attracted the highest number of bids, with six bids, followed by Lamatola in Madhya Pradesh and Baisi in Chhattisgarh. Notable companies such as Tata Steel Ltd, JSW Steel Ltd, and Rungta Sons Pvt. Ltd are among the 27 firms that submitted bids in this auction process.
Rungta Sons Private Limited submitted the highest number of bids for five mines, followed by JSW Steel and JK Cement with bids for four mines each. Tata Steel placed bids for two mines, while ACC Ltd submitted bids for one mine.
The government aims for a coal production of 186.63 million tonnes (mt) from captive and commercial coal mines during FY24-25, with plans to increase production to 225.69 mt in FY26 and ultimately to 383.56 mt by FY29-30. In the current fiscal year, the production target stands at 162 mt from captive and commercial mines.
Several mines with a cumulative peak rated capacity (PRC) of 14.87 mt have already commenced production within three and a half years after the commercial coal mines auction began in 2020. As of December 2023, the total coal production from these captive and commercial coal mines reached 14.04 mt, reflecting a 38% increase from December 2022.
As of December 31, 2023, there were 50 captive and commercial coal mines under production, with 32 mines allocated to the power sector, 11 to the non-regulated sector, and seven allocated for the sale of coal.
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