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Business News/ Industry / Energy/  39 coal mines to be put on sale in eighth round of auction
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39 coal mines to be put on sale in eighth round of auction

Coal ministry says that the launch of the eighth round of commercial coal mining auctions is a significant step towards promoting private sector participation in the coal mining industry and increasing coal production

The coal ministry said that the Centre's progressive policies have amounted in faster allocation of mines to the private sector and the upcoming auctions is likely to have participation of more new players. BloombergPremium
The coal ministry said that the Centre's progressive policies have amounted in faster allocation of mines to the private sector and the upcoming auctions is likely to have participation of more new players. Bloomberg

The Union coal ministry on Monday said a total of 39 mines will be put on sale in the eighth round of commercial coal mines auction, which will be launched on Wednesday.

“A total of 35 coal mines will be offered in the upcoming round comprising 11 under the Coal Mines (Special Provisions) Act, 2015 and 24 under the MMDR Act 1957... Additionally, four coal mines are being offered under the second attempt of round seven of commercial coal auction," the coal ministry said in a statement.

The ministry said that the launch of the eighth round of commercial coal mining auctions is a significant step towards promoting private sector participation in the coal mining industry and increasing coal production.

“The Ministry of Coal is gearing up for the launch of the eighth round of auctions for commercial coal mines on November 15, 2023 marking further significant leap in the Coal sector and taking a step forward, towards making India Atmanirbhar in coal," the ministry said.

Pralhad Joshi, the coal and mines minister will be the chief guest at the launch of the next round of auctions, said the statement.

The coal ministry said that the Centre's progressive policies have amounted in faster allocation of mines to the private sector and the upcoming auctions is likely to have participation of more new players.

On Friday, the government said that more than 20 abandoned mines have been identified by state-owned Coal India Ltd (CIL) for evaluation and feasibility study for pump storage projects.

State-owned NLCIL has also taken up a feasibility study on pump storage projects, the coal ministry had said in a statement.

Pumped storage power plants use gravity to generate electricity using water that has previously been pumped from a reservoir in the pit into an upper reservoir.

During periods of low demand, the water is pumped into the higher reservoir. When demand is high, the water is released to drive a turbine in a powerhouse and feed electricity into the grid.

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Published: 13 Nov 2023, 09:00 PM IST
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