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New Delhi: The Ministry of Coal has announced an extension of the bid submission deadline for the ongoing 7th round of Commercial Coal Mine auctions. In response to numerous requests from potential bidders, the last date for bid submission has been extended to June 27, said a statement by the Ministry of Coal on Wednesday. The statement also added that the previous deadline was May 30.
Further, the statement by the Ministry stated that the extension aims to accommodate a larger number of interested participants and ensure a more inclusive and competitive bidding process. Also, it acknowledges the significance of this round of auctions in creating additional production capacity in the coal mining sector.
In its efforts to enhance production capacity, the Coal Ministry has allocated or auctioned 133 mines with a cumulative Peak Rated Capacity (PRC) of 540 million tonnes per annum (MTPA). Of these, 48 coal mines have commenced production, contributing to a cumulative PRC of 195 MTPA. The ongoing financial year has witnessed noteworthy growth, with production from captive and commercial mines reaching 16.25 million tonnes (MT) as of May 22, marking a significant 10.2 percent increase compared to the 14.75 MT produced during the same period last year.
To facilitate the timely development of coal mines by private players, the Ministry of Coal is providing essential support in terms of land availability, environment, and forest clearances, assistance from financial institutions, and inter-agency coordination. The Ministry has set a target of achieving 162 MT production from captive and commercial mines during the current financial year.
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