commercial mining of coal Adani Enterprises wins Gondulpara coal block of Jharkhand | Adani Enterprises wins Gondulpara coal block of Jharkhand, will share 20.75% revenue with government

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  • Commercial Mining Of Coal Adani Enterprises Wins Gondulpara Coal Block Of Jharkhand

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Ministry of Coal said that 17.633 million tonnes of geological reserve is present in Gondulpara coal mine.

  • Gondulpara coal mine will generate revenue of Rs 520.92 crore every year
  • At this stage the government will get Rs 108.09 crore from this mine every year

On Saturday, on the sixth day of commercial coal mining auction, Adani Enterprises won the Gondulpara coal mine in Jharkhand. Companies such as Vedanta Limited and EMIL Mines and Mineral Resources Limited were competing with Adani for this block. Adani eventually won the Gondulpara coal mine by offering the government a 20.75 percent revenue sharing.

The Ministry of Coal said in a statement that the Geological reserve of 17.633 million tonnes is present in the Gondulpara coal mine. This mine will give a revenue of Rs 520.92 crore every year. That is, at this stage the government can get Rs 108.09 crore from this mine every year.

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18 blocks have been auctioned

The ministry said that on the sixth day of the auction of commercial coal mining, only one coal mine in Jharkhand was put up for e-auction. With the auction of this mine, the government has auctioned a total of 18 coal mines till Saturday for commercial mining. Some of the major companies now acquiring coal blocks include Vedanta, Hindalco Industries and Jindal Power.

Last day of auction on monday

Another block Gare Palma IV / 7 will be put up for auction on Monday. Monday is also the last day of the auction of mines. Prime Minister Narendra Modi started the process of auctioning coal mines for commercial mining in June.

Private sector has entered the coal sector for the first time

Modi described it as a major step towards India’s self-reliance. With the move of commercial auction of coal blocks, the private sector has got entry for the first time in the coal sector.

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