Next round of coal mines auction for commercial mining in Oct or Nov: Coal Minister Pralhad Joshi

Coal Minister Pralhad Joshi on Thursday said the next round of auction of coal mines for commercial mining will be launched in October or November.

The details of most of these mines are already available in public domain, and some more mines will be added in the list, the coal ministry said in a statement.

"...The next tranche of commercial mines auction would be launched in October/ November 2021," it said.

Meanwhile, the coal ministry will very soon come out with tender document for second attempt of sale of 11 coal mines in the ongoing auction round for the mines which have received single bids, it added.

Eight coal mines have been successfully auctioned with the winning percentage of revenue share ranging from 6 to 75.5 per cent with an average per cent revenue share of 30 per cent.

The electronic auction of these mines was conducted in the first week of August this year.

The Ministry of Coal, it said, has executed agreements with the eight successful bidders pursuant to the auction of second tranche of coal mines for commercial mining.

Addressing the successful bidders, Joshi congratulated them for their successful participation in the auction process. The minister stressed that the government is on a continuous journey to reform the coal sector and unlock values for the nation's economy.

The success of these auctions will help in further strengthening the vision of an Aatmanirbhar Bharat as it will help reduce India's coal import, the minister added.

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Joshi appealed to all the coal bearing states to facilitate the opening of allocated coal mines so that the country could make use of its abundant coal resources to ensure energy security for its citizens

SBI Capital Markets Ltd, sole transaction advisor to the coal ministry for the commercial coal mine auction, had devised the methodology and assisted the ministry in the conduct of the auction.