Jaiprakash Power Ventures is the highest bidder for a coal mine in MP
Jaiprakash Power Ventures has become the highest bidder for a block of coal in Madhya Pradesh.
The government put 10 coal mines up for sale under commercial coal mining this week.
While Madhya Bharat Minerals emerged as the highest bidder for a coal mine in Chhattisgarh, Avassa Ferro Alloys made the highest bid for a mine in Maharashtra.
Gangaramchak Mining was the highest bidder for a mine in Jharkhand while Terri Mining made the highest bid for another block in Eastern State.
Jhar Mineral Resources emerged as the highest bidder for two mines in Odisha and Sobhagya Mercantile made the highest bid for a mine in Maharashtra.
“The Designated Authority… held an electronic auction of eight coal mines here today,” the coal ministry said in a statement.
Of the eight mines offered for sale on the first day, five coal mines are fully explored and three mines are partially explored mines. The total geological reserves of these eight coal mines are 2,157.48 million tonnes (MT).
The cumulative peak capacity (PRC) for these coal mines is 19.31 million tonnes per year.
The remaining two blocks will go on sale Wednesday in the second attempt in the fourth round of commercial coal mining auctions.
The government has so far auctioned 43 coal mines with a maximum nominal capacity of 5.54 million tons per year.
Coal Minister Pralhad Joshi said last month that more than 107 coal mines would be put up for sale in the near future.
The coal ministry has set a coal production target of 900 million tonnes for the current fiscal year, including 700 million tonnes from state-owned CIL.
Prime Minister Narendra Modi in 2020 launched the auction process for 41 coal blocks for commercial mining, a move that opened up India’s coal sector to private players.
(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)