Coal news and updates

4th tranche auction declared for non-regulated sector

India Coal Market Watch

 November 19: The Ministry of Coal (MoC), on November 19, said it will float on November 20 the notice inviting tender (NIT) to auction eight coal mines earmarked under Schedule-III for the non-regulated sector (iron & steel, cement and captive power plants) in the fourth tranche.

 “Directions have been issued to the Nominated Authority for conduct of the auction,” a communique from the ministry said.

 Sale of the tender document will start from the same day, ie, November 20, with due date for submission of bids on December 31, 2015.

 “The e-auctions for these mines will be held from January 18-22, 2016 and the vesting order by the Nominated Authority to the successful bidder shall be issued by March 10, 2016,” the communique said.

 In the tranche-III auctions held a few months back (July 2015), as many as six mines were offered to the non-regulated sector, but only three were ultimately allotted.

 The offered mines in the third tranche were Bhaskarpara, Chitarpur, Jamkhani, Majra, Marki Mangli-I and Parbatpur Central.

 While Bhaskarpara was won by Crest Steel and Power Private Ltd, Majra went to Jaypee Cement Corporation Ltd and Marki Manlgi-I to Topworth Urja & Metals Ltd.

 The details of the coal mines to be e-auctioned in the fourth tranche are as follows: