Update on Commercial Coal Mines Auction by Ministry of Coal

The Ministry of Coal opened the bids for the 9th round and second attempt of the 7th round of commercial coal mines’ auction on February 20, 2024.

• 27 coal mines were up for auction in the 9th round, receiving 33 bids against 13 mines.
• 5 coal mines were part of the 2nd Attempt of the Seventh round, receiving 7 bids against 3 mines.
• Major companies participating included Tata Steel Ltd, JSW Steel Ltd, Rungta Sons Pvt Ltd, etc.

The bids submitted by various companies will be evaluated by a Technical Evaluation Committee, and the qualified bidders will proceed to the electronic auction on the MSTC portal.

Key Points:

• 9th round and second attempt of the 7th round of commercial coal mines’ auction opened by the Ministry of Coal.
• 27 coal mines and 5 coal mines were put up for auction, receiving a total of 40 bids.
• Major companies such as Tata Steel Ltd, JSW Steel Ltd, Rungta Sons Pvt Ltd participated in the bidding process.

Potential Exam Questions:

• How many bids were received for the 9th round and the second attempt of the 7th round of commercial coal mines’ auction?
• Which major companies participated in the auction for coal mines?
• What is the next step after the bids are evaluated in the commercial coal mines’ auction process?

"The auction of commercial coal mines plays a significant role in the energy sector's development and resource allocation." - Ministry of Coal

Summary:

The Ministry of Coal recently conducted auctions for commercial coal mines, with significant participation from major companies. The evaluation of bids by a Technical Evaluation Committee will determine the bidders proceeding to the electronic auction phase. This update highlights the importance of transparent resource allocation in the energy sector.