Sixty coal mines will be offered in 10th round of commercial coal mines auction to be unveiled by Union Minister of Coal and Mines G.Kishan Reddy in Hyderabad on June 21.
Of them, 24 are fully explored and the remaining 36 partially explored. Additionally, five coal mines – four fully explored and one partially – will also be offered under the second attempt of Round 9. Also, two coal mines are being offered under the second Attempt of Round 8, the Coal Ministry said on Wednesday.
The auction will be conducted online and based on the percentage revenue share model. There are no restrictions on the sale or utilisation of coal. Eligibility criteria has been eliminated, removing any technical or financial barriers for participation. A shift from the notified price to the National Coal Index ensures transparency and fairness, establishing a market-driven pricing mechanism, the Ministry said.
Aimed at moving towards self-reliance in the coal sector, the auction of the coking and non-coking coal mines, located in different States/regions, is poised to foster transparency, competitiveness and sustainability in the sector. The initiative will support regional economic development and employment generation, it said.
