Team Blitz India
NEW DELHI: The Ministry of Coal on August 5 successfully completed the auction of coal mines for commercial mining under the seventh round.
After assessment of bids, the forward e-auctions for six mines had commenced from August 1 culminating in the successful auction of all six mines onAugust5.
The average revenue share has shown an upward trend, increasing from 22.12% in the previous tranche to 23.71%.This higher revenue share indicates a strong and continued interest from industry players and investors in the commercial coal mining sector and stable future of coal mining in India. This also signifies the success of the reforms introduced by the Government in the coal sector through the introduction of commercial coal mining.
Coal production from these mines will help to reduce the demand for imported thermal coal and decreasing reliance on public sector coal mining companies. The commercial coal mine auctions will bring about positive changes for society, by creating job opportunities and infrastructure development in the coal-bearing regions.
