Friday, July 30, 2021

Four coal mines placed for auction on Day 2 of Commercial Coal Mine Auction

Four coal mines were put up for auction on Day 2 of Commercial Coal Mine Auction.

Among these, three are in Madhya Pradesh and one is in Jharkhand.

The e-auction witnessed strong competition amongst the bidders with all mines attracting good premiums over the reserve price.

First day of auction of coal mines for sale of coal on Monday saw strong and healthy competition among the bidders.

Ministry of Coal had launched the auction of coal mines for commercial mining on 18th June pursuant to a two stage forward auction process, wherein the bidders have to bid for the percentage revenue share over the reserve price.

The blocks put on auction by Ministry of Coal generated wide interest from bidders who had submitted their bids for various blocks on offer.

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