On Friday, the Indian government signed agreements with six bidders, including Hindalco Industries and NLC India Ltd, who successfully acquired coal blocks in the seventh round of coal mine auctions. This round involved the auctioning of 106 coal mines for commercial mining.

The coal ministry announced that the successful bidders include Hindalco Industries Ltd, NTPC Mining Ltd, NLC India Ltd, Shri Bajrang Power & Ispat Limited, and Nilkanth Mining Ltd. The coal blocks covered by these agreements are Meenakshi West, North Dhadu (Eastern Part), North Dhadu (Western Part), Pathora East, Pathora West, and Sherband.

Among these blocks, four have undergone partial exploration, while the other two have been fully explored. The estimated annual revenue generated from these blocks is approximately Rs 787.59 crore, assuming a production capacity of seven metric tonnes per annum (MTPA).

An investment of Rs 1,050 crore has been allocated for the operationalization of these coal mines. The revenue-sharing percentages for the successful bidders in these six coal mines range from six percent to 43.75 percent, with an average revenue share of 23.71 percent.

In 2020, Prime Minister Narendra Modi initiated the auction process for 41 coal blocks to facilitate commercial mining, marking the opening of India's coal sector to private players.