Coal news and updates

Coal auctions: deadline for technical bids on July 21

Companies interested in bidding for 10 coal mines in the third round of auctions will have time till July 21 to submit their technical bids. The sale of tenders began on Monday, according to the Coal Ministry.

The technical bids, which would also have an initial price offer, will be opened on July 23. Following this, the list of qualified bidders will be announced on August 7. The financial bids will begin from August 11 and completed by August 17.

The 10 mines up for auction have a cumulative peak rated capacity of 13.47 million tonne per annum and have extractable reserves of 356 million tonne. Out of the 10, five mines are those that were unsold in the previous two rounds of auctions. Two of the mines are from the producing mines category and the rest are from the ready-to-produce category.

source: http://www.thehindubusinessline.com