From February 27, the government to put up 27 more coal mines for auction

23 Feb 2023 , 07:38 AM

The next phase of the commercial mines auction, which begins on February 27, will feature the sale of 27 coal mines, the coal ministry announced on Wednesday. The coal ministry began the auction process for 141 coal and lignite mines in November of last year.

‘Following completion of technical review, 27 coal mines which got more than one bid, will be placed up for forward auction from Monday, February 27, 2023 onwards,’ the ministry stated in a statement.

On February 24, a simulated e-auction will be held to help buyers become more comfortable with the auction procedure.

On November 3, 2022, the ministry began the 6th round and 2nd attempt of the 5th round of commercial coal mining auctions, and the industry responded with unprecedented vigor.

It said, ’96 bids were submitted for 36 coal mines, with participation from many first-time bidders, demonstrating the enthusiasm among the bidders and the good feeling regarding the coal mining sector.’

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