The final auctions will be held between December 23 and January 5, 2022. The largest blocks to be bid out in the second attempt include the Burapahar mine in Odisha, Tokisud Block II in Jharkhand and the Dahegaon/Makardhokra-IV block in Maharashtra.
The Union coal ministry has decided to re-auction 11 coal mines, which received a tepid response in the last round held in August, with one bidder for each. The blocks being re-auctioned include six assets that are fully explored and five partially explored ones.
The coal ministry will hold a pre-bid meeting for these 11 mines on October 11, and companies will have to submit bids by November 29. The final auctions will be held between December 23 and January 5, 2022. The largest blocks to be bid out in the second attempt include the Burapahar mine in Odisha, Tokisud Block II in Jharkhand and the Dahegaon/Makardhokra-IV block in Maharashtra.
The government had offered a total of 67 blocks under the second round of auction for commercial mining, out of which only eight mines could be put up for final bidding.
The government had also conducted similar second-attempt auctions after the maiden auction round under the commercial coal mining policy, held in November last year when as many as 19 mines out of the 38 offered could be auctioned off. As many as four coal mines that had fetched a single bid in the first round were put up for re-auction in the second attempt, of which only the Kuraloi North block could be auctioned in June this year, with Vedanta being the successful bidder.
Adani Group entities have won three out the eight mines which went under the hammer in the latest tranche of commercial coal mining auctions in August, placing the highest bids for the Khargaon and the Jhigador mines in Chhattisgarh the Gondkhari block in Maharashtra.
The highest bidders for the other blocks were Kolkata-based Shreesatya Mines for the Rauta Closed mine and the Burakhap Small Patch block in Jharkhand, Prakash Industries for the Bhaskarpara mine in Chhattisgarh, South West Pinnacle Exploration for the Jogeshwar and Khas Jogeshwar block in Jharkhand and Sunflag Iron and Steel for the Bhivkund coal mine in Maharashtra.
These coal assets, with no end-use restrictions, are being auctioned off through the new market-determined revenue share model that replaced the fixed fee/tonne regime that had earlier turned off private investors. Out of the 3.4 lakh million tonnes of total coal reserve in the country, public sector undertakings own currently own blocks with combined reserves of nearly 2 lakh MT.