Govt gets bids for 19 coal mines in commercial mining auction
COAL & MINING

Govt gets bids for 19 coal mines in commercial mining auction

The Ministry of Coal has received bids for 19 coal mines out of the 67 blocks proposed under the second phase of the auction for commercial mining. As many as 20 firms have cumulatively placed 34 bids for commercial coal mining.

Burakhap mine, Jharkhand, received the most interest with five bids, followed by the Rauta mine, which got four bids. Real Estate companies Sunflag Iron and Steel and Aurobindo Realty placed bids for four coal blocks, the maximum bid by a single entity under the second round of the auction. Vedanta placed bids for one mine, and Bharat Aluminium Company, its subsidiary, placed a bid for another block.

The ministry on March 25, set up the second auction for coal blocks where private players can participate without any end-use limitations. The first round of auction following the new commercial coal mining policy received a modest response from investors in November previous year, when financial bids for 19 mines were received out of the 38 blocks placed on auction.

The 67 mines put up for auctions have entire coal reserves of around 36,000 million tonnes (mt) of fuel.

Earlier, the government said for the second auction tranche, it would eliminate mines in the wildlife reserves which have over 40% green area, to reduce the concerns about the environmental norms. Currently, mines under prosecution or overlapping with active coal-bed methane blocks were also not covered in the latest list.

From 3.4 lakh mt of total coal reserve in the country, mines with extractable reserves of 2.3 lakh mt at present stand allotted to various entities. The public sector currently owns blocks with mixed reserves of nearly 2 lakh mt.

Hindalco Industries, Aditya Birla's Group and Adani Power Maharashtra also placed a bid for one block each. A few other bidders include Prakash Industries, Shree Sai Urja, Rungta Mines, and Adhunik Power.

Chhattisgarh Mineral Development Corporation (CMDC), an undertaking firm by the state government submitted one bid as well.

Image Source


Also read: Ministry of Coal revises timelines for second tranche of coal auctions

Also read: Coal mine auctions: Commercial tranche 2 gains traction

The Ministry of Coal has received bids for 19 coal mines out of the 67 blocks proposed under the second phase of the auction for commercial mining. As many as 20 firms have cumulatively placed 34 bids for commercial coal mining. Burakhap mine, Jharkhand, received the most interest with five bids, followed by the Rauta mine, which got four bids. Real Estate companies Sunflag Iron and Steel and Aurobindo Realty placed bids for four coal blocks, the maximum bid by a single entity under the second round of the auction. Vedanta placed bids for one mine, and Bharat Aluminium Company, its subsidiary, placed a bid for another block. The ministry on March 25, set up the second auction for coal blocks where private players can participate without any end-use limitations. The first round of auction following the new commercial coal mining policy received a modest response from investors in November previous year, when financial bids for 19 mines were received out of the 38 blocks placed on auction. The 67 mines put up for auctions have entire coal reserves of around 36,000 million tonnes (mt) of fuel. Earlier, the government said for the second auction tranche, it would eliminate mines in the wildlife reserves which have over 40% green area, to reduce the concerns about the environmental norms. Currently, mines under prosecution or overlapping with active coal-bed methane blocks were also not covered in the latest list. From 3.4 lakh mt of total coal reserve in the country, mines with extractable reserves of 2.3 lakh mt at present stand allotted to various entities. The public sector currently owns blocks with mixed reserves of nearly 2 lakh mt. Hindalco Industries, Aditya Birla's Group and Adani Power Maharashtra also placed a bid for one block each. A few other bidders include Prakash Industries, Shree Sai Urja, Rungta Mines, and Adhunik Power. Chhattisgarh Mineral Development Corporation (CMDC), an undertaking firm by the state government submitted one bid as well. Image Source Also read: Ministry of Coal revises timelines for second tranche of coal auctions Also read: Coal mine auctions: Commercial tranche 2 gains traction

Next Story
Building Material

JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh

This marks the company’s second commercial coal block win, following its acquisition of the West of Shahdol (South) coal block. "The company is committed to becoming self-reliant for its existing cement plants and upcoming projects," JKC stated. The surplus coal from the mine will be sold commercially. The vesting order was handed over to JK Cement during a ceremony at Shastri Bhawan, New Delhi, a critical milestone for commencing mining operations within the stipulated timeline...

Next Story
Building Material

Prism Johnson's cement division goes live with Ramco ERP Suite

Prism Johnson has successfully gone live with the Ramco ERP Suite for its Cement Division. This milestone marks a significant step in Prism Johnson's digital transformation journey, leveraging Ramco Systems' advanced enterprise solutions and process control systems to streamline business processes, manufacturing operations and drive efficiency. The implementation includes cutting-edge modules for Maintenance, Sales, Distribution, Finance, Procurement, Manufacturing, Quality, and HR Management (HRM). These solutions enable Prism Johnson to achieve seamless integration across its business and wo..

Next Story
Infrastructure Urban

Indian shadow bank Shriram Finance gets record $1.28 billion loan

Shriram Finance Ltd. is reported to have borrowed $1.28 billion in a multi-currency social loan, marking the largest offshore facility ever undertaken by an Indian shadow lender. According to a press release issued by Shriram, the deal is divided across the dollar, euro, and dirham. Sources familiar with the transaction, who wished to remain anonymous, indicated that the tenors in the multi-tranche deal range from three to five years. This loan adds to the surge of offshore debt sales by Indian shadow lenders this year, a trend prompted by the Reserve Bank of India's tightening of rules in Nov..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000