The Ministry of Coal on Wednesday mentioned it has placed on auction 122 coal and lignite mines under the commercial auction process.
Addressing the fifth tranche of auction launch, Union Minister of Coal, Mines and Parliamentary Affairs Pralhad Joshi mentioned 42 coal mines have already been auctioned efficiently to date.
In a press release, the ministry mentioned it “has positioned on supply 122 coal/lignite mines immediately under commercial auction of coal mines, together with 18 new coal mines.”
Sharing the small print of mines under completely different tranches for auction, it mentioned there are 109 coal mines under fifteenth Tranche of Coal Mines (Special Provisions) Act, 2015 and fifth Tranche of Mines and Minerals (Development & Regulation) Act, 1957.
Of the 109 mines on supply, 59 are totally explored mines and 50 are partially explored mines.
Four coal mines are under second try of 14th Tranche of Coal Mines (Special Provisions) Act, 2015 and Second Attempt of 4th Tranche of Mines and Minerals (Development & Regulation) Act, 1957.
Total 9 coal mines are under 2nd try of thirteenth Tranche of Coal Mines (Special Provisions) Act, 2015 and Second Attempt of third Tranche of Mines and Minerals (Development & Regulation) Act, 1957.
Key options of auction process embody introduction of National Coal Index, ease in participation with no restriction for prior coal mining expertise, full flexibility in coal utilisation, optimized fee constructions, effectivity promotion by way of incentives for early manufacturing and use of clear coal expertise.
Further, incentives are being contemplated by Ministry of Coal.
“The graduation of sale of tender doc shall begin from Wednesday. Details of the mines, auction phrases, timelines and so forth. might be accessed on MSTC auction platform. The auction shall be held on-line by way of a clear two stage process, on the idea of Percentage Revenue Share,” the coal ministry mentioned.
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