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Coking Coal Block Auctions Fail to Attract Steel Makers

Coal News - Published on Fri, 09 Oct 2020

Image Source: Coal Block Auctions
PTI recently reported that no steel company has shown interest in bidding for four coking coal blocks of 38 mines put on auction for commercial mining as they have concern about fuel quality and high capital cost. Of the four blocks with coking coal two received bids from companies which do not make steel. An official of steel company told PTI "Steel companies did not show interest in bidding for the coking coal blocks as the quality of the fuel from these mines is not very good and capital expenditure for mining is high. Availability of capex funds is also limited during the COVID-19 pandemic. Import is a viable option. The four mines were offered four times in the past for captive use but no steel makers had shown interest earlier. In this round, steel companies have not submitted bids."

The two coking coal mines that received bids are Brahamadiha in Jharkhand and Urtan in Madhya Pradesh

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Posted By : Yogender Pancholi on Fri, 09 Oct 2020
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