New Delhi: A total of 44 bids have been received by the Ministry of Coal for 67 coal mines that were put up on offer under the 10th round of commercial coal mine auctions. In a statement, the Ministry of Coal said, “The Ministry of Coal has received an overwhelming response for the coal mines offered under the 10th round of commercial coal mine auctions, with a total of 44 bids submitted in physical form. The substantial number of bids underscores the continued interest and participation from stakeholders in India’s evolving coal sector.”
The 10th round of auctions was launched by the Ministry of Coal on June 21 this year. It offered 67 coal mines for commercial mining. The auction process has drawn considerable participation from small and medium-sized players, indicating the inclusive nature of the auction process, said the Coal Ministry. “This inclusivity highlights that the reforms in the coal sector have been well received across the industry, regardless of the size of the players. Such enthusiastic participation is a testament to the Ministry’s efforts in creating a more open and competitive coal market in India,” it added.
The last date for bid submission was October 18, marking the closure of the bid submission phase. The online bids received during the auction process, along with the offline bids submitted to the office of the Nominated Authority, will be opened on October 21 in the presence of the bidders, ensuring transparency and fairness in the evaluation process, said the Coal Ministry.
“The strong response to this round of auctions is a significant step towards making the country self-reliant in energy and aligns with the Government’s vision of ‘Atmanirbhar Bharat.’ By engaging a diverse range of participants, the Ministry aims to further enhance coal production, ensuring a reliable supply of coal for various sectors, thereby supporting the nation’s energy security and reducing dependence on coal imports. The Ministry of Coal remains committed to fostering a dynamic and competitive environment for the coal sector, ensuring the availability of coal resources to meet the growing demands of the economy,” said the statement.
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