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Coal Auctions Ignite 66,000 Jobs, Unlock 3.3 Billion Tonnes
26 Nov
Summary
- Three coal blocks were successfully auctioned, holding vast reserves.
- Over 66,000 jobs are projected to be created by these auctions.
- Significant capital investment and annual revenue expected from blocks.
India's Ministry of Coal has successfully concluded the 13th round of commercial coal mine auctions, selling three fully explored coal blocks. These blocks, Pirpainti Barahat and Dhulia North in Jharkhand, and Mandakini-B in Odisha, collectively hold geological reserves of about 3,306.58 million tonnes. The auctions, which took place from November 20th to November 25th, are projected to generate substantial economic benefits.
The successful auction of these three blocks is anticipated to create over 66,000 employment opportunities. Furthermore, the initiative is expected to attract a capital investment of nearly ₹7,350 crores and yield an annual revenue of approximately ₹4,620.69 crores. This development underscores the ongoing growth and potential within India's coal sector since the inception of commercial mining in 2020.
Cumulatively, since 2020, India has auctioned 136 coal blocks, establishing a significant production capacity and mobilizing substantial investment. These blocks are estimated to generate over ₹43,330 crores annually and create more than 4.35 lakh jobs across the country, highlighting the strategic importance of coal mining for economic development.
