Over 100 Representatives Attend Pre-Bid Meeting for 10th Commercial Coal Auction

The Ministry of Coal hosted a pre-bidding meeting with over 100 industry representatives for the 10th round of commercial coal mine auctions, launching the auction process for 67 mines scheduled for June 21, 2024.

In its latest effort to amplify coal production, the Ministry of Coal held a pre-bidding meeting for the 10th round of commercial coal mine auctions. Over 100 industry representatives participated in the virtual session, chaired by Additional Secretary and Nominated Authority M Nagaraju on June 21, 2024. The government is offering 67 coal mines in this tranche.

The Ministry, along with SBI Capital Markets Limited as the Transaction Advisor and CMPDIL providing technical advice, presented an in-depth overview of the auction process. Various aspects such as bid security, upfront amounts, rebates, borehole density, Peak Rated Capacity, and other technical issues were discussed. The ministry addressed multiple queries from potential bidders to ensure clarity and transparency.

To maximize participation in the auction, the ministry assured comprehensive support to bidders and encouraged them to route their questions through the Office of the Nominated Authority. The deadline for bid submissions is August 27, 2024. Union Minister of Coal and Mines G Kishan Reddy inaugurated this auction series in Hyderabad, highlighting its significance in bolstering India's coal production.

The coal mines available for bidding are spread across Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Telangana, and West Bengal. Odisha leads the offerings with 16 mines, followed by Chhattisgarh and Madhya Pradesh with 15 each. This auction follows Coal India Limited's initiative, which had already allocated 23 mines to private bidders under a revenue-sharing model.

(With inputs from agencies.)