Khottadih and Sonepur Bazari are the biggest OC Projects of Raniganj coalfields. These OCPs commenced on 1982 and 1990 respectively. The main aim of this study is to estimate the costs of environmental impact and compare them to the benefits of coal extraction. To find out the environmental degradation, spatial and temporal variations of suspended particulate matter (SPM) and daily noise of air are measured on a regular basis. Volumetric filtration and gravimetric weighing methods was used to explore the suspended particulate matter, on the other hand the daily noise is measured by using pulsar digital sound level meter. Huge amount of environmental loss which is associated with opencast mining are generally excluded from financial appreciation of opencast project. By using hedonic pricing method this paper tries to explore the amount of environmental degradation due to opencast coal mining and provide cost upon them. In Arc GIS Inverse Distance Weighted (IDW), Thiessen Polygon and Kriging were used to show the environmental cost.
