Starting form this tranche, the government is introducing a rolling auction mechanism ‘wherein any un-auctioned mine shall remain available for auction on the portal, with more mines being added as and when available’
Public sector mining major NMDC has reported a 66 per cent jump in production to 4.57 million tonnes (MT) in March 2021, from 2.76 MT a year ago, and a 51 per cent growth in sales to 4.08 MT during the month of March 2021 as compared to 2.70 MT sales March 2020. Production and sales in March were the highest in the company s history. The previous best show was in March 2018 when the company mined 4.10 MT. Chhattisgarh production in March stood at 3.98 MT as compared to 2.60 MT, while sales stood at 3.21 MT (2.41 MT). Mining in Karnataka rose to 0.59 MT from 0.16 MT, while sales rose to 0.87 from 0.29 MT. During the year ended March 31, 2021 total production stood at 34.11 MT as compared to 31.49 MT, an increase around 8.32 per cent, while sales rose to 33.27 Mt from 31.51 MT, an increase of around six per cent.
Synopsis
Presently, Coal India sells 20-25% of its coal through several exclusive auctions to power consumers, non-power consumers and coal importers. The proposal to allow Coal India hold single e-auction would require change in present policy and an approval from the Union Cabinet.
Agencies
The government has auctioned 19 coal blocks in the first tranche of commercial coal auctions. Another 75 mines with reserves of over 38,000 million tonnes are proposed to be offered in the current tranche of the auctions.
The government proposes to allow
Coal India Ltd to export surplus coal for the first time since its inception while clubbing all spot auctions held by the state-owned miner for various consumers for trading on one exchange.