Union Coal Minister Pralhad Joshi on Monday said States would garner a total revenue of Rs 6,656 crore annually from the success of the nation’s first-ever commercial mining auction.
Joshi told the media in New Delhi that 19 mines have successfully been auctioned, which is the highest number of successfully auctioned mines in any tranche of coal auctions.
Jharkhand would get the maximum annual revenue of Rs 2,690 crore followed by Madhya Pradesh with Rs 1,724 crore. Odisha, Chhattisgarh and Maharashtra would get Rs 1,059 crore, Rs 863 crore and Rs. 321 crore, respectively. “The results of these auctions are historic and clearly proves that opening up the coal sector under the dynamic and visionary leadership of Prime Minister Modi was a step in the right direction and is propelling towards making the nation Aatmanirbhar in coal,” Joshi said.
Joshi said the mines have witnessed a fierce competition and companies have offered great premiums. The highest premium remained at 66.75% and average premium at 29%.
