Coal news and updates

Nine Coal Blocks on Offer in Fourth Round of Auction

The fourth round of coal mine auctions starting next month will see nine mines being put on the block with the Union Government adding one more block to the existing list of eight mines.

According to the Ministry of Coal, which had kick-started the process last month for the fourth round of e-auctioning, has added Bhaskarpara mine in Chhattisgarh to the list. It is being earmarked for the non-regulated sector, iron and steel, cement and captive power plants, the Ministry of Coal added.

The proposed round of mines auction is slated for January 18-22, 2016.

“It has been decided to auction eight Schedule III coal mines earmarked for non-regulated sectors like iron and steel, cement and captive power plants in the fourth tranche. The e-auction for these mines will be held from January 18 to January 22, 2016,” Anil Swarup, Coal Secretary had earlier informed.

It may be noted that the last three rounds of auction have generated proceeds of more than `3 lakh crore, which would be realised over 30 years by states where the mines are located.

Besides Bhaskarapara mine in Chhattisgarh, the coal blocks to be put under the hammer are Brahmapuri and Suliyari in Madhya Pradesh, Bundu and Gondulpura in Jharkhand, Gondkhari and Khappa & Extn in Maharashtra and Jagnathpur A and Jaganathpur B in West Bengal.

The Supreme Court in September last year had cancelled the allocation of 204 coal mines to companies without auction.

source: http://www.newindianexpress.com