Jindal Steel and Power Ltd (JSPL) has emerged as the highest bidder for Gare Palma IV/1 coal block in Chhattisgarh with a bid price of Rs 230 per tonne, said an official. This apart, Birla Corporation Ltd has emerged as the highest bidder for Bikram coal block in Madhya Pradesh with a bid price of Rs 154 per tonne, the official said quoting the results of e-auction for coal mines under eight tranche.
While six mines are on offer, auctions for the two of which have been completed, the official said. In the coal block auction held earlier, Balco, part of Anil Agarwal-led Vedanta Ltd, had emerged as the highest bidder for Gare Palma IV/1.
The government had, however, rejected its bid and appointed Coal India Ltd as the designated custodian for the mine. Gare Palma IV/1 coal block in the Raigarh district of Chhattisgarh has a total mineable reserves of 114.16 million tonne (extractable as per mining plan).
The coal block was owned by JSPL before the Supreme Court in 2014 cancelled 204 coal mines allocated to the different government and private companies since 1993 under the provisions of the Coal Mines (Nationalisation) Act, 1973.