Coal Ministry Launches 8th round of Commercial Coal Mines Auction
New Delhi: The Ministry of Coal launched the eighth round of commercial coal mines auction process, here today. Total of 39 coal mines are on offer. Launching the auction virtually, Union Minster for Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi said that all efforts are on to stop coal import by 2025-26. He also stated that coal production from underground mines (UG) will be further scaled up to touch 100 million tonne (MT) by 2030 by deploying mass production technology.
The mines being auctioned are spread across coal bearing States of Jharkhand, Odisha, Maharashtra, West Bengal and Bihar. These mines come under CMSP Act and MMDR Act. Out of 39 coal mines, four mines are being offered under 2nd attempt of 7th round under CMSP/ MMDR Act, where single bid were received in the first attempt. Of the 35 coal mines being offered under 8th round, 16 coal mines are new ones and 19 mines are being rolled over from earlier tranches.Read Also : Indian Govt signs USD 175 million loan agreement with ADB
The Ministry of Coal has taken a series of reforms to ensure that the coal sector grows at a rapid pace and is able to meet the growing energy demand of country. For 8th round also, mines falling under protected areas, wildlife sanctuaries, critical habitats, having forest cover greater than 40%, heavily built-up area etc. have been excluded. The block boundaries of some of the coal mines where there was presence of dense habitation, high green cover or critical infrastructure etc. have been modified for early development of coal mine.
Addressing the function Secretary, Ministry of Coal Shri Amrit Lal Meena said that captive/commercial coal mines are contributing significantly to overall production. He said that systematic surveys have been carried out before offering 39 mines for auction. For speedy evacuation of coal from mines, rail connectivity is being augmented and further added, Shri Meena saidRead Also : Power Grid Shines Again; Honors for Flagship Project
Earlier, welcoming the guests and potential bidders, Additional Secretary and Nominated Authority of the Ministry, Shri M Nagaraju emphasised on the need for further enhancing domestic coal production. He highlighted that a series of reforms have been initiated by the Ministry recently. Domestic coal demand will be increasing in coming decades too. Therefore, investment in coal sector offers good returns, he added.
The commencement of sale of tender document for auction shall start from today i.e., November 15, 2023. Details of the mines, auction terms, timelines etc. can be accessed on MSTC auction platform. The auction shall be held online through a transparent two stage process on the basis of percentage revenue share.
SBI Capital Markets Limited, the sole Transaction Advisor to Ministry of Coal for the commercial coal mine auctions is assisting the Ministry in conducting the auction process.Read Also : Naval Exercise Prasthan at ONGC’s R 12A Ratna Platform
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