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Odisha Seeks Postponement of Coal Block Auction

Coal News - Published on Thu, 24 Sep 2020

Image Source: COVID19 Coal Block Auction
IANS reported that Odisha government has requested the central government to defer the coal block auction process by three months in view of the unfavourable market condition due to the prevailing Covid-19 pandemic. Odisha’s Steel and Mines Minister Prafulla Mallik, in a letter, has urged Union Coal Minister Pralhad Joshi to direct the officials for the deferment of the auction. He said the coal block auction process can kick-start after the favourable market condition and an improvement in the Covid-19 pandemic situation. He said "If the coal block auction is held in this scenario, the government might not be able to get the better price of the natural mineral resource. The lease period of coal blocks is 30 years and a poor response to the auction will affect the state's coal revenue.”

The Centre has started auction process for 41 mining blocks including nine from Odisha. They are Chendipada I, Chendipada II, Machhakata, Mahanadi, Radhikapur (East), Radhikapur (West), Brahmanbil & Kardabahal, Kuraloi (A) North, and Phuljhari (East & West). These mines have a total geological coal reserve of 10,750 million tones.

Centre has decided to auction 41 coal mines for commercial mining including nine from Odisha. The last date for submission of the bid is September 29. It was decided that the e-auction would be held from October 19 to November 9, 2020

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Posted By : Yogender Pancholi on Thu, 24 Sep 2020
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