Forty-four bids have been submitted for coal mines offered under 10th round of commercial coal mine auctions, the Ministry of Coal said on Friday.
The substantial number of bids underscores the continued interest and participation from stakeholders in India’s evolving coal sector.
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Ministry of Coal had launched the 10th round of auctions on June 21, 2024, and offered 67 coal mines for commercial mining.
The auction process has drawn considerable participation from small and medium-sized players, indicating the inclusive nature of the auction process.
“This inclusivity highlights that the reforms in the coal sector have been well received across the industry, regardless of the size of the players. Such enthusiastic participation is a testament to the Ministry’s efforts in creating a more open and competitive coal market in India,” Ministry of Coal said in a statement.
The last date for bid submission was October 18, 2024, marking the closure of the bid submission phase.
The online bids received during the auction process, along with the offline bids submitted to the office of the Nominated Authority, will be opened on October 21, 2024, in the presence of the bidders, ensuring transparency and fairness in the evaluation process.
