India offering 67 coal mines in second commercial auction tranche

In the largest ever coal mine auction, India is bidding out 67 mines with a total resource base of 36 billion tonnes of fossil fuel in the second tranche of commercial coal mine auctions.

Also, starting form this tranche, the government is introducing a rolling auction mechanism “wherein any un-auctioned mine shall remain available for auction on the portal, with more mines being added as and when available,” said M. Nagaraju, additional secretary in the union coal ministry, and the nominated authority for these auctions in a ministry’ statement on Thursday.

India has the world’s fourth largest reserves and is the second-largest producer of coal. With global shift to green energy to address growing environmental concerns, the Indian government is trying to harness coal reserves within the next three decades.

We are offering 67 mines with a total resource of almost 36 bn and explored mines PRCs of about 150 million tonnes (mt) during 2nd tranche auctions of coal mines for commercial mining. This is the biggest ever offer of coal mines in the country,” Nagaraju added in the statement.

Of the 67 blocks being auctioned, while 37 are fully explored, the balance 30 have been partially explored. These mines are spread across Chhattisgarh, Jharkhand, Odisha, Madhya Pradesh, Maharashtra and Andhra Pradesh.

“The commencement of sale of tender document started from 25th March 2021 and the bid due date is 24th June 2021,” the statement said.

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