Coal news and updates

E-auction method for coal blocks likely by Dec 22

December 9: The draft methodology for holding e-auction of de-allocated coal blocks is likely to be finalised by December 22, an official from a company which owns an operational coal block said.

“The ministry has appointed consultants to frame the methodology for conducting e-auction and the consultants are believed to be in discussions with SBI Capital Markets and other such entities. Once the draft methodology is made public by December 22, there will be comments from stakeholders,” the official said.

“I am sure the methodology would be bidder- or investor-friendly,” the official added.

“One thing is clear -- that government is moving fast to conduct the e-auction of blocks and things are progressing fast,” the official said.