Coal ministry conducts pre-bid conference for auction of 11 mines

By: |
October 11, 2021 6:33 PM

Key features of the auction process include the introduction of the National Coal Index, ease in participation with no restriction for prior coal mining experience.

Coal Mining 02These were the mines that were offered in the first attempt launched on March 25 and had fetched single bids. (File)

The government on Monday organised a pre-bid conference for prospective bidders for the sale of 11 coal mines.

The coal ministry launched the second attempt of the auction of 11 coal mines earmarked for the sale of coal last month.

“Ministry of Coal has organised a pre-bid conference today for prospective bidders,” according to an official statement.

These were the mines that were offered in the first attempt launched on March 25 and had fetched single bids.

Presentations were made on the terms and conditions of auction, technical details of mines and the National Coal Index by SBI Capital Markets Ltd, Central Mine Planning and Design Institute (CMPDI) and DDG respectively, the coal ministry said.

The auction will be held online through a transparent two-stage process, on the basis of percentage revenue share.

Key features of the auction process include the introduction of the National Coal Index, ease in participation with no restriction for prior coal mining experience, full flexibility in coal utilisation, optimised payment structures, efficiency promotion through incentives for early production and the use of clean coal technology.

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