Govt to meet bidders in second phase of commercial coal mining auction
COAL & MINING

Govt to meet bidders in second phase of commercial coal mining auction

The Ministry of Coal will meet prospective bidders today for the second tranche of the commercial coal mining auction that has 67 mines up for sales, the highest number of mines on offer in a particular tranche after the commencement of the auction regime in 2014.

The centre has called for the pre-bid meeting after it had postponed the April 15 meeting. SBI Caps will give a presentation on the tender process, while Central Mine Planning and Design Institute (CMPDI) and the nominated authority will also be present there.

As many as 19 mines were auctioned in the first-ever tranche of commercial coal mining auction held last year, with the premium quoted by the successful bidders in the range of 9.5-66.75%.

The agreements between the coal ministry and the successful bidders were signed in January this year.

Of the 67 mines offered by the ministry, 23 are under Coal Mines (Special Provisions) Act and 44 under Mines and Minerals (Development and Regulation) Act.

The blocks on offer are a mix of mines with small and large reserves, coking and non-coking mines spread across six states—Andhra Pradesh, Chhattisgarh, Jharkhand, Odisha, Madhya Pradesh, and Maharashtra.

The coal ministry told the media that the government was moving towards adopting a “rolling auction” scheme.

Coal is the first mineral resource, where this mechanism is being implemented in which a pool of blocks will always remain available for auctions.

The government expects that commercial coal mining will invite new investments and boost socio-economic development in coal-bearing states, and a market-based coal economy will help the nation become “Atmanirbhar” in the availability of the resource.

Image Source


Also Read: Amendment in Mining Act: A step towards building self-reliant India

Also Read: Coal auction: 67 blocks on offer in second phase

The Ministry of Coal will meet prospective bidders today for the second tranche of the commercial coal mining auction that has 67 mines up for sales, the highest number of mines on offer in a particular tranche after the commencement of the auction regime in 2014. The centre has called for the pre-bid meeting after it had postponed the April 15 meeting. SBI Caps will give a presentation on the tender process, while Central Mine Planning and Design Institute (CMPDI) and the nominated authority will also be present there. As many as 19 mines were auctioned in the first-ever tranche of commercial coal mining auction held last year, with the premium quoted by the successful bidders in the range of 9.5-66.75%. The agreements between the coal ministry and the successful bidders were signed in January this year. Of the 67 mines offered by the ministry, 23 are under Coal Mines (Special Provisions) Act and 44 under Mines and Minerals (Development and Regulation) Act. The blocks on offer are a mix of mines with small and large reserves, coking and non-coking mines spread across six states—Andhra Pradesh, Chhattisgarh, Jharkhand, Odisha, Madhya Pradesh, and Maharashtra. The coal ministry told the media that the government was moving towards adopting a “rolling auction” scheme. Coal is the first mineral resource, where this mechanism is being implemented in which a pool of blocks will always remain available for auctions. The government expects that commercial coal mining will invite new investments and boost socio-economic development in coal-bearing states, and a market-based coal economy will help the nation become “Atmanirbhar” in the availability of the resource. Image Source Also Read: Amendment in Mining Act: A step towards building self-reliant India Also Read: Coal auction: 67 blocks on offer in second phase

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?