CIL unlocking unused mines

Kolkata: In a bid to unlock coal reserves from its closed and discontinued underground mines, Coal India Ltd (CIL) has awarded 23 such mines to private operators on a revenue-sharing model, the company announced on Wednesday. These mines have a cumulative peak rated capacity of 34.14 million tonnes per year, with estimated total extractable reserves of 635 million tonnes. The minimum revenue share is set at four per cent, and the contract period is a maximum of 25 years, CIL stated. The identities of the private operators have not been disclosed. Coal India officials said the bidding process for another 11 mines is in an advanced stage.