The coal ministry is preparing to auction 30 new coal blocks in May, aiming to boost domestic coal production and reduce imports. Learn more about the upcoming coal mine auction and its impact on the energy sector.
26 mines in govt’s 9th round of commercial coal mine auction in Top News on December 20: DOMS Industries IPO listing, Share market, Bank Nifty outlook, Kia Sonet facelift bookings open also in focus.
The Ministry of Coal is set to launch the ninth round of commercial coal mine auctions on December 20, 2023, offering up to 26 blocks to bidders. The auction will take place in Chhattisgarh, Jharkhand, Madhya Pradesh, and Telangana. The auction will have no restrictions on the sale or utilization of coal, and eligibility criteria have been eliminated.
During the session, the ministry will review the actual coal production for the just concluded fiscal 2022-23 as well as the production targets for 2023-24.
'Scroll.in' reported that the other bidder was Cavill Mining Private Limited, which is also the main promoter of Adicorp Enterprises. Hindenburg Research alleged the latter was used to route funds from various Adani Group firms to Adani Power.