Nalco and NLC India Join Race for Coal Mines in Latest Auction

6 Feb 2024 , 01:00 PM

Ten businesses, including Nalco, Gujarat Mineral Development Corporation, and NLC India, filed bids for coal mines up for sale in the eighth round of the commercial mines auction, according to a statement released by the government on Monday. A total of 35 coal mines were listed for auction under the eighth round, and seven bids were submitted in opposition to four coal mines. Four coal mines were put up for auction during the second attempt of the seventh round, and three bids were received against three coal mines, according to a statement from the coal ministry.

Ten businesses in all have placed bids in the auction process, according to a statement from the coal ministry.

The following businesses also submitted bids: JMS Mining Pvt Ltd, Maa Durga Coal & Minerals Pvt Ltd, SMN Tradecomm Pvt Ltd, OCL Iron and Steel Ltd, TANGEDCO, and Nilkanth Infra Mining Ltd.

‘The nominated authority, Ministry of Coal has opened bids for the 8th round and second attempt of the 7th round of commercial coal mines’ auction today (Monday),’ said the announcement.

A multidisciplinary technical evaluation committee will review the bids, and those who meet the technical qualifications requirements will be shortlisted to compete in the auction, which will take place on the MSTC platform.

In 2020, 41 coal blocks were put up for auction for commercial mining by Prime Minister Narendra Modi, opening up the Indian coal market to foreign companies.

For feedback and suggestions, write to us at [e-mail]