02 Mar 2023

Seventh Round of Commercial Coal Mines Auction Likely by Month End

02 Mar 2023  by   

Commercial coal mining remained a state monopoly for decades before the government started auctioning coal mine blocks in 2020.

The government has been making many provisions to attract private sector participation in the auctions, said the official cited above.

For the mines that are still not getting interest, the ministry is trying to identify the issues and work on them. "We do check why some mines don't get interest. In this round (sixth) also we have done certain corrections in some areas," the official said.

The second phase of the sixth trance of commercial coal mines auction is currently underway. The technical round of the latest tranche started on Monday.

The auction of coal mines is a two-stage electronic auction process. Bids received are examined through technical scrutiny. Once the bids are qualified, the next auction is conducted on an online platform.

The coal ministry has a project management unit to assist in expediting clearances for such mines.

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