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The Ministry of Coal will begin the process for the 7th round of auctions for a total of 106 coal blocks on Wednesday, 29 March 2023. The coal mines are selected considering the varied demands of the investors. The coal mines being offered under 7th round are a mix of partially explored, fully explored, coking, non-coking, lignite etc. Of the 106 coal mines offered under 7th round, 61 mines are partially explored coal mines and 45 are fully explored ones. There are 95 non-coking coal mines, one coking coal mine and 10 lignite mines being offered under 7th round of auctions. Further, the Ministry of Coal will be signing the agreements for 28 coal mines auctioned under 6th round. The cumulative PRC (peak rated capacity) of the 28 coal mines which were auctioned under 6th round for which the agreements are being signed is 74 million ton per annum (MTPA) and these mines are expected to generate annual revenue of Rs 14,497 crore calculated at PRC of these coal mines. The Coal Ministry has successfully auctioned 87 mines in less than three years. These mines are estimated to generate revenue of around Rs 33,200 crore and provide employment to about three lakh people. The first-ever tranche of Commercial Coal Mine Auctions was launched by Prime Minister Narendra Modi in June 2020. Powered by Capital Market - Live News
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