A call for segregation of bidders for Transparency in Mine Auctions
COAL & MINING

A call for segregation of bidders for Transparency in Mine Auctions

Stakeholders advocate for segregating committed bidders from others in mine auctions to address regulatory concerns. Gouranga Sen, Group Head of Economic & Policy Analysis at Vedanta Limited, stressed the importance of distinguishing serious participants from non-serious ones during a panel discussion at Economic Times Infra's Global Metals and Mining event in New Delhi.

Sen proposed shifting from progressive to single-stage bidding for mine auctions to differentiate serious and non-serious bidders.

According to Suresh Chandra Suman, director of mines at NLC India Limited, the policy shift towards auctioning mines has significantly enhanced transparency, benefiting states where mines are auctioned. The amendment to the Mines and Minerals (Regulation and Development) Act of 2015 mandated auctioning mineral concessions to ensure fairness in resource allocation.

Suman highlighted the auction process's positive outcomes, particularly in states like Jharkhand and Chhattisgarh. Addressing the debate on reverting to administrative allotment of mines, as was the practice before the regulatory reforms, Navneet Kumar, Head of Business Development & Operations at Skill Council for Mining Sector, advocated for continuing the auction process. He stressed the need for India, as a growing economy, to generate revenue through mine auctions.

Panel members underscored coal's continued significance as the most cost-effective energy source and prioritized sustainable extraction practices. V.K. Shukla, General Manager at Central Coalfields Ltd, projected India's annual coal production to reach 1.5 billion tonnes by 2030.

Stakeholders advocate for segregating committed bidders from others in mine auctions to address regulatory concerns. Gouranga Sen, Group Head of Economic & Policy Analysis at Vedanta Limited, stressed the importance of distinguishing serious participants from non-serious ones during a panel discussion at Economic Times Infra's Global Metals and Mining event in New Delhi. Sen proposed shifting from progressive to single-stage bidding for mine auctions to differentiate serious and non-serious bidders. According to Suresh Chandra Suman, director of mines at NLC India Limited, the policy shift towards auctioning mines has significantly enhanced transparency, benefiting states where mines are auctioned. The amendment to the Mines and Minerals (Regulation and Development) Act of 2015 mandated auctioning mineral concessions to ensure fairness in resource allocation. Suman highlighted the auction process's positive outcomes, particularly in states like Jharkhand and Chhattisgarh. Addressing the debate on reverting to administrative allotment of mines, as was the practice before the regulatory reforms, Navneet Kumar, Head of Business Development & Operations at Skill Council for Mining Sector, advocated for continuing the auction process. He stressed the need for India, as a growing economy, to generate revenue through mine auctions. Panel members underscored coal's continued significance as the most cost-effective energy source and prioritized sustainable extraction practices. V.K. Shukla, General Manager at Central Coalfields Ltd, projected India's annual coal production to reach 1.5 billion tonnes by 2030.

Next Story
Infrastructure Transport

Cabinet Approves Key Highway and Rail Projects in Bihar Region

The Union Cabinet on Wednesday approved the four-laning of the 84.2-km Mokama-Munger section of the Buxar-Bhagalpur high-speed corridor, a key industrial region in poll-bound Bihar. The Cabinet also sanctioned the doubling of the 177-km Bhagalpur-Dumka-Rampurhat railway line, which passes through Bihar, Jharkhand, and West Bengal, at a cost of Rs 31.7 billion.The Rs 44.5 billion highway project will be constructed under the hybrid annuity model, a variant of public-private partnership. The Mokama-Munger stretch was the only remaining two-lane section of the 363-km Buxar-Bhagalpur corridor. Fou..

Next Story
Infrastructure Transport

NGT Issues Notice on Bengaluru Twin Tunnel Project

The National Green Tribunal (NGT) on Wednesday issued notices in response to a petition filed by Bengaluru Praja Vedike and others, challenging the Bengaluru twin tunnel road project. Petitioners claim the project was “hastily announced” and bypassed mandatory environmental impact assessment procedures.Notices have been served to the Karnataka Government, Greater Bengaluru Authority, State Environment Impact Assessment Authority (SEIAA), Bengaluru Smart Infrastructure Ltd (B-SMILE), the Union Ministry of Environment, Forest and Climate Change, and project consultants.The 16.74-km twin-tube..

Next Story
Real Estate

India’s Residential Sales to Dip Slightly in FY26

Residential sales in India’s seven major cities are projected to decline by up to 3 per cent year-on-year in FY26 to 620–640 million square feet (msf), amid a moderation in sales velocity, according to ratings agency Icra.In FY25, sales stood at 643 msf, down 8 per cent YoY, following a sharp contraction in new launches and moderated demand in the affordable and mid-income segments. This slowdown came after the sector posted a robust compound annual growth rate of 26 per cent in area sales between FY22 and FY24.Icra noted: “Having seen a strong upcycle, the sector entered an equilibrium ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?