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The Ministry of Coal has received 70 bids from 46 companies for 20 coal blocks under the 11th round of commercial coal mine auctions. The coal blocks on offer were for non-coking coal, except for one block of coking coal. The participating companies include several major players in the Indian coal industry, such as JSW Steel, Jindal Steel and Power, Coal India’s arm Western Coalfields, and Adani Natural Resources.
Interestingly, more than 15 new companies, including a Coal India subsidiary, have participated in the auction for the first time. Other notable companies that submitted bids include Bharat Aluminium Company, The Andhra Pradesh Mineral Development Corporation, Orissa Metaliks, Lloyds Metal, and Odisha Coal and Power.
The bidders will undergo a multi-disciplinary technical evaluation, and those who are technically qualified will be shortlisted for participation in an electronic auction, which will be conducted on the MSTC portal. The bidding process is considered unprecedented, with a high response rate from interested companies.
This auction is seen as a major step forward for the Indian coal industry, as it marks the first time that commercial coal mines are being offered for auction to private companies. The move is expected to boost the country’s coal production and meet the increasing demand for electricity and other uses.
The outcome of the auction is eagerly awaited, as it will provide a glimpse into the future of India’s coal sector and the roles that private companies will play in its development. With the successful auction, the country is likely to see increased investment in coal mining, exploration, and development, leading to improved coal supplies and reduced imports.