Adani Enterprises Ltd on Saturday won Gondulpara coal mine in Jharkhand on the sixth day of commercial mining auction.
Companies like Vedanta Ltd and EMIL Mines and Mineral Resources Ltd were also vying for the coal block.
Adani Enterprises made a final offer of 20.75 per cent revenue sharing for Gondulpara coal mine which has a geological reserves of 176.33 million tonnes, the coal ministry said in a statement.
The mine will generate annual revenue of Rs 520.92 crore, the coal ministry said.
The ministry said that one coal mine of Jharkhand was put up for auction on day six of commercial coal mine auction.
The e-auction witnessed strong competition amongst the bidders with the mine attracting good premium over the floor price, it said.
Including Saturday's one block, the government has so far auctioned 18 mines for commercial mining.
Some of the corporate biggies that have bagged blocks so far are Vedanta, Hindalco Industries and Jindal Power.
One more block Gare Palma IV/7 will be put on sale on Monday which is the last day of auction of mines.
In June, Prime Minister Narendra Modi launched the auction process for 41 coal blocks for commercial mining, a move that opened the coal sector to private players, and termed it a major step in the direction of India achieving self-reliance.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.