Coal news and updates

Coal mines to create 3 lakh jobs: Pralhad Joshi

The 41 coal mines offered in the first round of auction by the government is estimated to generate employment for approximately 3 lakh people, informed the minister of Coal and Mines Pralhad Joshi in a written reply in Rajya Sabha on Monday.

In terms of revenue generation, the minister said, it is estimated that approximately Rs 20,578 crore would accrue to coal bearing state governments considering production at aggregated peak rate capacity level of approximately 226 MTPA.

“This estimate was based on the taxes applicable on approximately 226 MTPA of coal produced viz. royalty, district mineral fund, national mineral exploration trust, etc,” said the minister.

As per the government, the ministry of coal has appointed a nominated authority for allocation of 204 cancelled coal blocks.