OPEN APP
Home >Industry >Energy >Offers received for 19 coal mines: govt

Offers received for 19 coal mines: govt

This comes at a time when globally coal is increasingly falling out of favour following a a shift toward environment, social and governance (ESG) compliance.Premium
This comes at a time when globally coal is increasingly falling out of favour following a a shift toward environment, social and governance (ESG) compliance.

  • The highest number of four bids have been submitted by Aurobindo Realty & Infrastructure Pvt. Ltd
  • Some of the other bidders are Vedanta Ltd, Adani Power Ltd, Adhunik Power and Natural Resources Ltd, Bharat Aluminium Company Ltd, Chhattisgarh Mineral Development Corporation Ltd and Rungta Mines Ltd

A total of 34 bids have been received for 19 of the 67 coal mines in Chhattisgarh, Jharkhand, Odisha, Madhya Pradesh, Maharashtra and Andhra Pradesh that have been offered in the second tranche of India’s commercial coal mine auctions.

This comes at a time when globally coal is increasingly falling out of favour following a a shift toward environment, social and governance (ESG) compliance.

The highest number of four bids have been submitted by Aurobindo Realty & Infrastructure Pvt. Ltd.

Some of the other bidders are Vedanta Ltd, Adani Power Ltd, Adhunik Power and Natural Resources Ltd, Bharat Aluminium Company Ltd, Chhattisgarh Mineral Development Corporation Ltd and Rungta Mines Ltd.

The first tranche of auctions saw 19 coal mines with a production capacity of 51 million tonnes annually won by bidders such as Vedanta Ltd, Adani Enterprises Ltd, Jindal Power Ltd and Hindalco Industries Ltd.

“A total of 34 bids have been received for 19 coal mines, of which 10 are fully explored mines and nine are partially explored mines. Four of these mines are coking coal mines and the remaining 15 mines are non-coking coal mines. Two or more bids have been received for eight coal mines," the Union coal ministry said on Friday.

The two-stage coal mine auction process will allow bidders to quote the percentage revenue share over the reserve price.

Besides there will be no restriction on the sale and utilization of coal from the mines.

Earlier, blocks were allocated to companies on the payment of fixed amounts per tonne.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout