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Source- This post on the Coal Ministry Signs Agreements for Three Coal Mines has been created based on the article “Coal Ministry Signs Agreements for Three Coal Mines” published in “PIB” on 16 July 2024.
Why in the news?
Recently, the Ministry of Coal has signed agreements for three coal mines under the Second Attempt of the 7th Round of auctions.
Coal Ministry Signs Agreements for Three Coal Mines
1. The Ministry of Coal has signed agreements for three coal mines under the Second Attempt of the 7th Round of auctions.
2. Importance: This event marks a significant achievement in the commercial coal mining sector in India.
3. Mines Involved: Machhakata (Revised) Coal Mine, Kudanali Lubri Coal Mine and Sakhigopal-B Kakurhi Coal Mine. All these three coal mines are located in Odisha.
4. Financial Impact: The estimated annual revenue generation from these three mines is approximately ₹2,991.20 crores. This estimation is based on production at an aggregated Peak Rate Capacity of around 30.00 MTPA (Million Tonnes Per Annum).
5. Employment and Investment: Once operational, these mines are projected to create approximately 40,560 direct and indirect jobs. Additionally, a total investment of around ₹4,500 crores will be allocated to bring these coal mines into operation.
6. Significance for India: This initiative represents a significant step toward achieving Atmanirbharta (self-reliance) in the coal sector. It contributes to economic growth, generates employment opportunities, and ensures the energy security of the nation.
UPSC Syllabus: Indian Economy
