Govt earned 24% average revenue share via commercial coal mine auctions: Minister G Kishan Reddy

The government has earned an average revenue share of 24.37 percent through commercial coal block auctions so far, with the highest revenue share (36.27 percent) earned through the 11th round of auctions, Union Minister for Coal and Mines G Kishan Reddy said on March 27, during the launch of the 12th round of commercial coal blocks.

Minister Reddy said going forward, sustainability will be a key in coal mining activities, adding that the government has no plan to reduce exploration and mining of fresh coal reserves.

“Auctions of commercial coal mines have attracted widespread participation over the last few rounds. We have seen an average revenue share of 24.37 percent until the 10th round. The encouraging participation and the increase of the average revenue share shows the faith of investors in the coal sector. More auctions are important, but timely operationalisation of mines is equally important,” Reddy said.

In the 11th round, Jindal Steel and Power (JSPL), Jindal Power and Coal India-arm Western Coalfields are among the 10 companies which bagged coal blocks, and were handed the agreements on March 27.