Metals & Mining News

Govt says 40 bids received via offline mode for coal mines auction under 9th round


New Delhi: The coal ministry on Monday said it has received 40 bids through offline mode for the coal mines put for sale under the ninth round of commercial auction. The government had launched the ninth round of commercial mines auction in December last year.

“The Ministry of Coal has received an overwhelming response for the coal mines offered under the ninth round of commercial coal mine auctions. A total of 40 bids have been received in offline form,” an official statement said.

The ninth tranche of auction was launched for 32 coal mines. The last date for submission of bids was February 19, 2024.

The online bids received as part of the auction process along with the offline bids will be opened on Tuesday in presence of bidders.

In 2020, Prime Minister Narendra Modi launched the auction process for 41 coal blocks for commercial mining, a move that opened India’s coal sector for private players.

(You can now subscribe to our Economic Times WhatsApp channel)


Source link