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Coal Mine Auction - Bidders Flag Distance of New Blocks from Consuming Centres

Coal News - Published on Thu, 12 Sep 2019

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The Hindu Business Line reported that potential bidders for the next round of coal auctions have expressed concern over the lower number of coal mines being put up for auction in the Eastern part of the country. At a meeting called by the Coal Ministry of the stakeholders, prospective bidders pointed out that the end-use industries are in the East, but a majority of the blocks on offer are in the Western part, specifically Maharashtra.

A participant in the meeting called by the Ministry of Coal said that this is a deterrent and may hamper the viability of the auctions as the coal transport costs will go up significantly for steel, power and other such large industry players that win these far away blocks.

Attracting bidders: The meeting was held to sensitise and interact with prospective bidder companies regarding the 8th, 9th and 10th tranches of coal mine auction currently under process. The highest number of mines are being offered during the 8th tranche for the unregulated sector.

During this round, there are nine mines in Maharashtra, four in Chhattisgarh, two in Madhya Pradesh, three in Jharkhand, and two in West Bengal up for grabs.

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Posted By : Rabi Wangkhem on Thu, 12 Sep 2019
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