Govt begins auction for 2nd tranche of commercial coal mining
The blocks on offer are a mix of mines with small and large reserves, coking and non-coking mines and fully and partially explored blocks spread across six States - Chhattisgarh, Jharkhand, Odisha, Madhya Pradesh, Maharashtra and Andhra Pradesh
image for illustrative purpose
New Delhi: The government on Thursday offered 67 coal mines for sale, launching the second tranche of commercial coal mining auction and termed it a step towards 'Aatmanirbhar Bharat'. This is the highest number of mines on offer in a particular tranche after commencement of the auction regime in 2014. "India launched its 2nd tranche of auction for commercial coal mining, offering 67 mines for sale of coal, today. Union Coal Minister Pralhad Joshi launched the auction process in a programme held in New Delhi," Ministry of Coal said in a statement.
NITI Aayog CEO Amitabh Kant and Coal Secretary Anil Kumar Jain were also present in the function. Out of the total 67 mines offered by the ministry, 23 are under Coal Mines (Special Provisions) Act and 44 under Mines and Minerals (Development and Regulation) Act. The blocks on offer are a mix of mines with small and large reserves, coking and non-coking mines and fully and partially explored blocks spread across six States - Chhattisgarh, Jharkhand, Odisha, Madhya Pradesh, Maharashtra and Andhra Pradesh. "We are making coal the driver of economic activities in the country. There are huge opportunities that the Indian coal sector is offering. Therefore, I invite investors to come and be a part of vastly untapped coal reserves in the country. Grow your businesses and take India along on the growth course," Joshi said while launching the auction.
Commercial coal mining will bring in new investments, create huge employment opportunities and boost socio-economic development in coal-bearing States, and a market-based coal economy will help the nation become Aatmanirbhar in coal, he said. The Coal Minister also said looking at the past success, the government is moving towards adopting a 'Rolling Auction' mechanism for conducting future auctions. Coal is the first mineral resource where this mechanism is being implemented in which a pool of coal blocks will always remain available for auctions. "With rolling auctions, we will upload a comprehensive list of mines along with key technical data and bidders can submit their preferences for the mines to be included in the next tranche of auction.
