Kishan Reddy To Launch Commercial Coal Mining Auctions On June 21
Hyderabad, June 20 (Maxim News): Union Minister for Coal and Mines, G. Kishan Reddy will launch the 10th round of commercial coal mining auctions on June 21 in Hyderabad.
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According to a statement issued by the Union Coal Ministry, in the 10th round of commercial coal mining auction, a total of 60 coal mines will be offered encompassing a diverse range of coking and non-coking coal mines across eight coal-bearing states. Among these, 24 coal mines are fully explored, while 36 are partially explored. One mine in Telangana will be offered for auction.
Additionally, five coal mines are being offered under the 2nd Attempt of round 9 of the commercial coal auction. Of these, 4 are fully explored, and one is partially explored. Also, 2 coal mines are being offered under the 2nd attempt of round 8 of auctions. Of these, one is fully explored and one is partially explored.
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There are no restrictions on the sale or utilization of coal. Notably, eligibility criteria have been eliminated, removing any technical or financial barriers to participation. Also, a strategic shift from the notified price to the national coal Index ensures transparency and fairness, establishing a market-driven pricing mechanism, the Coal Ministry said.
The amendment of mineral laws has been instrumental in unlocking the coal sector, providing an equitable playing field for both public and private sector players, and allowing auctions for various purposes, including own consumption and sale.
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For ease of doing business, the Ministry of Coal has conceptualized a Single Window Clearance System (SWCS) portal to create a platform to obtain various clearances for the early operationalization of coal mines, ultimately resulting in the augmentation of coal production in the country through a single gateway. These reforms serve as pillars of progress and resilience in the coal sector.
Detailed information regarding the mines, auction terms, and timelines can be accessed on the MSTC auction platform. The auction will be conducted online through a transparent process, based on the Percentage Revenue Share model, the statement said.
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Minister of State for Coal and Mines Satish Chandra Dubey, Deputy Chief Minister Mallu Bhatti Vikramarka, and Ministry of Coal Secretary Amjrit Lal Meena will be present on the occasion. (Maxim News)
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