The mines are located in five states: Jharkhand (11 mines), Madhya Pradesh (10 mines), Chhattisgarh (8 mines), Odisha (3 mines), and Maharashtra (3 mines).
The auction will be conducted by MSTC Limited, a government-owned e-commerce company. The mines will be auctioned off to the highest bidders on the basis of revenue sharing. The successful bidders will be required to pay a royalty to the government on the coal they produce.
The commercial coal mine auction is part of the government’s efforts to increase coal production in the country and reduce India’s dependence on imported coal. The government has so far auctioned off 152 coal blocks in seven rounds, of which 91 were meant for captive purposes and 61 for commercial purposes.
The 8th round of commercial coal mine auction is expected to attract strong interest from investors, both domestic and international. The mines being offered are of high quality and have the potential to produce a significant amount of coal. The auction is also expected to boost the coal mining industry in the country and generate employment opportunities.
Here is a summary of the key points:
• The Indian government will offer 35 coal mines in the upcoming 8th round of commercial coal mines auction on November 15, 2023.
• The mines are located in five states: Jharkhand, Madhya Pradesh, Chhattisgarh, Odisha, and Maharashtra.
•The auction will be conducted by MSTC Limited, a government-owned e-commerce company.
•The mines will be auctioned off to the highest bidders on the basis of revenue sharing.
•The successful bidders will be required to pay a royalty to the government on the coal they produce.
•The auction is part of the government’s efforts to increase coal production in the country and reduce India’s dependence on imported coal.
•The auction is expected to attract strong interest from investors and boost the coal mining industry in the country.
Stay informed with our financial updates, stocks, bonds, commodities. Get global & political insights. Follow us & enable notifications for the latest updates.
