The 91 million tonnes PRC of 29 coal blocks which have been bid out, would be an additional 7 per cent of the present national average PRC of coal reserves, sources said.
The Coal Ministry had put up 29 reserves on auction for commercial mining last month, all of which have been bid out, sources informed. The last of the 29 mines was bid out successfully earlier in the day, they added.
With all the 29 mines expected to begin production by 2024-25, i.e. by the next two years, the government is hoping that all these coal mines put together will enhance the overall national average output by an additional 7 per cent.
The ministry launched the auction of coal reserves for commercial mining in the sixth round and second attempt of fifth round on November 3, 2022.
Forward auctions for these mines had started on February 27.
PRC pertains to the maximum production capacity of a coal mine, or in other words, the maximum quantity of coal which can be mined from it annually.
Commercial mining allows the private sector to mine coal commercially without placing any end-use restrictions. Private firms will have the option of either gasification of the coal or exporting it. They can also use it in their own end-use plants or sell them in the markets.