Saturday, May 14, 2022

Commercial coal mine auction: Govt awards 4 coal mines from tranche II in 2nd attempt

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  • For Gondbahera Ujheni East coal mine in Madhya Pradesh (MP), the Centre picked MP Natural Resources Private Limited
  • In Jharkhand, Tokisud Block II and Lalgarh (North) coal mine went to Twenty First Century Mining Private Limited and Adhunik Power and Natural Resources Ltd, respectively

New Delhi: The Ministry of Coal has declared the names of four successful bidders for four coal mines that it failed to auction under tranche II of commercial coal mine auction. A notification released by the ministry on Thursday said, “In continuation of the Notice Inviting Tender dated September 27, 2021 and pursuant to the conduct of electronic auction of 4 mines in December 2021, the following Bidders are declared as Successful Bidders in line with the provisions of the Clause 3.3.2 (d) of the Standard Tender Document.”

Commercial coal mine auction: Successful bidders

For Gondbahera Ujheni East coal mine in Madhya Pradesh (MP), the Centre picked MP Natural Resources Private Limited. In Jharkhand, Tokisud Block II and Lalgarh (North) coal mine went to Twenty First Century Mining Private Limited and Adhunik Power and Natural Resources Ltd, respectively. The Beheraband North Extn coal mine in MP went to Auro Coal Private Limited.

This was the second attempt to auction these four coal mines.

Backdrop

The government has said that coal mines that are put up for auction for commercial mining but fail to garner any bids in the first attempt will be bid out for a second time. The process will be followed for all tranches of commercial coal mine auction. The coal mine auction process currently takes place on a rolling basis, where coal mines that could not be bid out in the first attempt are added to the new list of mines. The government has opened the coal mining sector to private players in 2020 with a view to increase India’s domestic coal production.

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