Coal auction: Trimula wins Jharkhand mine on second day

Trimula Industries won the Meral mine for non-power sector in Jharkhand on Thursday, the second day of the second round of auctions of coal blocks whose allotments were cancelled by the Supreme Court.

This takes the total number of mines won by companies to five.

"Meral coal block closes at Rs.727 (per tonne)," Coal Secretary Anil Swarup said in a tweet.

Trimula bagged the mine outbidding the Easternrange Coal Mining and Usha Martin.

Meral mine, earlier allotted to Abhijeet Infrastructure Ltd, has extractable reserves of 12.67 million tonnes.

There would be no auction of the mines on Friday on account of Holi .

Meanwhile, Prime Minister Narendra Modi on Thursday said the overwhelming response to coal block auctions had vindicated his stand that the previous central government was "stealing" the nation's natural resources.

"Out of 204 coal blocks, only 19 have been auctioned so far, but we have already generated revenue of Rs.1.10 lakh (110,000) crore. So just imagine how much more money will come once all the coal blocks are auctioned," Modi said addressing the foundation stone laying ceremony of the second phase of 2,520-MW Singaji thermal power plant in Khandwa district of Madhya Pradesh.

"Madhya Pradesh alone will get revenues of Rs.40,000 crore from the four mines that have been auctioned," he added.

The Lok Sabha on Wednesday passed the coal allocation bill providing for vesting mining leases to successful bidders through a transparent bidding process.

Replying to the debate on the bill, union Coal Minister Piyush Goyal said there was no provision for denationalisation and workers interests will not be compromised.

The Coal Mines (Special Provisions) Bill, 2015, provides for allocation of coal mines and vesting the right, title and interest over mine infrastructure together with mining leases to successful bidders through a transparent bidding process. Before the house passed the bill, amendments sponsored by the opposition were negatived.

The bill replaces an ordinance brought by the government in the inter-session period.

"The requirement of all public sector units has been taken care of. State governments are also getting their requirement," Goyal said.