COAL & MINES

Coal mine auction: 34 bids for 19 mines in second tranche

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 the global window for future coal mining is getting shorter with a shift towards meeting environment, sustainability, and governance (ESG) compliance.

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

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

“A total of 34 (thirty-four) bids have been received for 19 (nineteen) coal mines of which 10 (ten) are fully explored mines and 9 (nine) are partially explored mines. 4 (four) of these mines are coking coal mines and the remaining 15 (fifteen) mines are non-coking coal mines. Two or more bids have been received for 8 (eight) coal mines,” the union coal ministry said in a statement on Friday.

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

Source
ET Energy World
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