G Kishan Reddy to launch 10th round of commercial coal block auctions next week

New Delhi: Newly-appointed Coal Minister G Kishan Reddy will launch the 10th round of commercial coal block auctions during the next week, said the Ministry of Coal in a statement on Friday. During the 10th round of auction, about 62 blocks are likely to be offered without end-user restrictions. “Aligning with the vision of Prime Minister Shri Narendra Modi for attaining energy independence by 2047 and to ensure ‘Atma-Nirbharta (self-reliance) in coal,’ the Union Minister of Coal and Mines, Shri G Kishan Reddy will launch the 10th round of Commercial Coal Block Auctions during the next week,” said the statement.

PSU Watch is now on Whatsapp Channels. Click here to join

Complete transparency & revenue maximisation should be ensured: Reddy

The minister has directed that complete transparency and revenue maximisation should be ensured while auctioning the coal blocks for commercial mining. Coal produced from these commercial blocks is permitted to be sold by the allocattee in the free market.

Commercial coal block auction was launched in 2020, opening coal mining to the private sector for the first time without the burden of a specific end-use. Since then, during the last nine rounds, the Ministry of Coal has successfully auctioned 107 coal blocks with 256 MT peak-rated capacity. So far, 11 commercial coal blocks have been operationalised. During the last year, 17.5 MT coal was produced from commercial blocks. The ministry of Coal has developed coal block portal on PM Gatishakti National Master Plan to facilitate proper visibility of geographical features for bidders.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)