Sarda Energy and Minerals and SM Steels and Power emerged as the winners of two coal blocks on the second day of the 10th round of the commercial coal mine e-auction. According to the coal ministry, Sarda Energy secured a block with geological reserves of 102.268 million tonnes (MT) in Chhattisgarh, while SM Steels won a mine with reserves of 77.9 MT in Jharkhand.

The operationalisation of these blocks is projected to generate annual revenue of Rs 339.06 crore at their peak rated capacities (PRC). They will also expected to bring in capital investment of Rs 315 crore and aid in creation of 2,839 employment, in a boost to local economies. The e-auction, which began on 21 June, 2024, has put up nine blocks on sale.

On the first day, five companies, including NLC India , ACC, and JSW Energy Utkal had acquired five coal mines. ACC bagged a block in Madhya Pradesh, while NLC India and JSW Energy secured mines in Odisha, and further, Mineware Advisors and Shreeji Nuravi Coal Mining and Trading also secured blocks. Their cumulative PRC stands at 12 MTPA. The government’s commercial mining initiative underlines its commitment to enhancing domestic coal production and reducing import dependence.