Coal news and updates

Prior coal block allottees asked to declare details

The Coal Ministry has asked the prior allottees of 74 coal blocks to declare details of permits and licences that they had had obtained. They have also been asked to disclose the bank-wise secured credit facilities with respect to the coal blocks.

The Nominated Authority appointed for the purpose of the Special Ordinance has sought further information in respect of the cancelled blocks by December 15, saying that this was necessary to carry out the process of allocation of the coal blocks under the provisions of “ The Coal Mines (Special Provisions) Ordinance 2014.

It wanted information on all permits, licences and approvals relevant to the mining operations including, but not limited to mining lease. It also wanted copies pf environment and Directorate General of Mines Safety Clearance.

Further, it sought bank-wise information on secured credit facilities specifically with respect to the coal block as on November 30, 2014.

Earlier on November 28, the allottees were asked to provide information needed to carry out valuation of compensation payable to the allottees whose blocks have been cancelled. They were asked to provide basic but comprehensive information about the coal block, cost details of equipment deployed and item-wise details of asset as in mine infrastructure.

It may be mentioned that following the situation arising out of the Supreme Courts’s cancellation of allocation of 204 coal blocks, the government decided to adopt the e—auction route for allocating the blocks afresh in a phased manner. Efforts were on to kick off the process by this month.

The Coal Mines (Special Provisions) Ordinance 2014, notified on October 21, provides for allocation of coal mines and vesting of mining rights to successful bidders and allottees to ensure continuity in coal mining operations,

Source: The Hindu