India: Coal Ministry allots two Coal Mines in Jharkhand to NMDC and RINL

SteelMint has received information from its reliable sources that India's coal ministry has allotted two coking coal mines, Rohne and Rabodih in Jharkhand to Steel Central Public Sector's Enterprise (CPSE'S), NMDC and RINL. These mines are allocated under the Coal Mines (Special Provision) Act, 2015.

The mines have a total capacity of 10 MnT per annum and are set to boost total coking coal production in the country. The decision has been taken with an intention to reduce the country's dependency upon imported coal.

While Rohne coal mine has been allocated to NMDC (National Mineral Development Corporation) for sale and also for its captive use in its upcoming Nagarnar plant in Chhattisgarh, Rabodih coal mine has been allocated to RINL (Rashtriya Ispat Nigam Ltd) for captive use and production of steel.

The expected revenue from both the coal mines over their lifetime is INR 7,000 crore for the State Government apart from royalties and other applicable taxes. Both the companies, RINL and NMDC would set up their washeries for washing coal.

These two coal mines are in addition to the total of 11 mines allotted by coal ministry. Out of the total mines, five mines have been allocated to successful bidders whereas six mines have been given to PSUs. AIl the 13 mines are set to add about 35 MnT of the country's total coal production and the total revenue expected from these mines is Rs.31,000 crore throughout their lifetime apart from royalties to the State government.