Coal news and updates

The Union Government may appoint Vivek Bhardwaj, a Joint Secretary in the ministry of coal, as the designated authority for conducting the auction of coal assets.

 

While efforts to contact Bhardwaj remained unsuccessful, sources told BusinessLine that all the correspondences on the preparation for auction are emanating from Bhardwaj’s office.

 

The name of the nominated authority is yet to be finalised. The initial proposal is to create a mini-replica of the Directorate General of Hydrocarbons that will work in close coordination with the Coal Controller’s Organisation and the Directorate General of Mine Safety (DGMS).

 

The Coal Controller reports to the Coal Ministry. It primarily looks into standardisation of coal grades, sampling of coal and acts as dispute redressal authority between the consumer and the producer on grade and size of coal. DGMS, on the other hand, is under the ministry of labour. It is the apex authority in clearing the mine plan and the equipment to be used in such mines. DGMS should also ensure safety in oil and gas fields.

 

Consultant

 

Meanwhile, Bhardwaj’s office has started preparation for appointment of a consultant for the auction.

 

The consultant will report directly to the designated authority.

 

The Central Mine Planning and Design Institute will assist both the designated authority as well as the consultant with technical assessment and the intrinsic value of the 74 assets, to be redistributed.

 

The institute is the drilling and mine planning arm of Coal India. The company organised the first ever auction of coal assets early this year. The auction could not be completed due to lukewarm response.

 

 

Source: The Hindu Business Line