Coal Ministry receives 38 bids for commercial mines’ auction

The Coal Ministry announced that it had received overall 38 bids from the three rounds of auctions for commercial coal mines.

The coal ministry revealed that the online bids submitted as part of the auction process would be open and in the presence of interested potential bidders.

It said that offline submissions were due at 16:00 hours on June 27, 2022, while online submissions for all coal mines had a deadline of 12:00 hours on that day.

The fifth tranche of the commercial mines' auction got 28 offline offers for 15 coal mines. Six bids were received for the nine coal mines that were put up for sale under the second attempt of the third tranche.

Four coal mines were put up for auction during the fourth round's second try, and four bids were proposed in opposition to three coal mines.

The ministry started the fifth round of commercial coal mine auctions, which was the second try at the fourth and third tranche.

In 2020, Prime Minister Narendra Modi announced the auction of 41 coal mines for commercial mining, claiming that this was a significant step toward achieving energy independence for India.

The prime minister declared that India would win the Coronavirus war, convert this crisis into an opportunity, and become self-sufficient as he started the auction of mines for commercial mining.

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Also read: India’s domestic coal production goes up by 28% as of June 16, 2022