9 coalmines of Odisha would be auctioned for commercial mining

Bhubaneswar: A total of 41 coalmines in the country including nine in Odisha would be auctioned for commercial mining.

The selected Odisha mines are Chendipada I, Chendipada II, Machhakata, Mahanadi, Radhikapur (East), Radhikapur (West), Brahmanbil & Kardabahal, Kuraloi (A) North, and Phuljhari (East & West).

The auction process for the 41 coal blocks was launched by Prime Minister Modi on Thursday as part of a series of moves by the Government of India under the Aatmanirbhar Bharat Abhiyan.

Notably, commercial coalmining auctions are totally different from the earlier regime of restricted sectors, use and price. The successful bidders would also have flexibility in coal production and have provision for incentives for early production and coal gasification. They could have 65% of scheduled production on an annual basis and 75% of scheduled production over a block of three years.

Besides, there would be complete freedom to use coal for sale, captive consumption, sale to affiliated bodies, coal gasification and exports.