New Delhi, Dec 4 (IANS): The Ministry of Coal will launch the 11th round of Commercial Coal Mine auctions on Thursday (December 5) in which 27 coal blocks are being offered across various states to promote regional economic growth and create employment opportunities, according to an official statement issued on Wednesday.

Building on the success of previous rounds, the Ministry continues its efforts to unlock India's vast coal reserves and enhance energy security, the statement said.

Union Minister of Coal and Mines G. Kishan Reddy, will launch the auctions in the national capital in the presence of Minister of State for Coal and Mines Satish Chandra Dubey, and Secretary of Coal Vikram Dev Dutt.

In this round, 20 coal mines will be offered for bidding, comprising 10 fully explored and 10 partially explored blocks. Additionally, 7 coal mines from the second attempt of Round 10 will also be on offer, including 4 fully explored and 3 partially explored blocks.

All these mines consist of non-coking coal, catering to India's growing energy demands, the official statement said.

Furthermore, during the event, the Ministry of Coal will execute Coal Mine Development and Production Agreements and Coal Block Development and Production Agreements for nine coal mines.

These mines are projected to generate annual revenue of approximately Rs 1,446 crores at peak-rated capacity and create around 19,063 employment opportunities.

Additionally, Coal Block Development and Production Agreements will be handed over to the successful bidders of the 10th tranche, reinforcing the government's commitment to enhancing coal production and energy security, according to the statement.

Commercial coal mine auctions have introduced several key reforms. There are no restrictions on the sale or utilisation of coal.

Notably, eligibility criteria have been eliminated, removing any technical or financial barriers for participation.

In addition, a strategic shift from the notified price to the National Coal Index ensures transparency and fairness, establishing a market-driven pricing mechanism.

The amendment of mineral laws has been instrumental in unlocking the coal sector, providing an equitable playing field for both public and private sector players and allowing auctions for various purposes, including own consumption and sale.

To simplify and accelerate mine operationalization, the Ministry has implemented the Single Window Clearance System (SWCS) portal.

This platform offers a seamless process for obtaining necessary approvals, ensuring ease of doing business and boosting coal production through a single gateway.

These reforms underline the Ministry's dedication to building a resilient and progressive coal sector.

Comprehensive details about the mines, auction process, and timelines are available on the MSTC auction platform. The auctions will be conducted through a transparent online process, employing the Percentage Revenue Share model, the statement added.