Commercial coal mine auction: CG Natural Resources highest bidder for Khargaon mine in Chhattisgarh


PTI | New Delhi | Updated: 04-08-2021 21:52 IST | Created: 04-08-2021 21:52 IST
Commercial coal mine auction: CG Natural Resources highest bidder for Khargaon mine in Chhattisgarh
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CG Natural Resources has emerged as the highest bidder for the Khargaon coal block in Chhattisgarh, while Prakash Industries was the preferred bidder for the Bhaskarpara mine in the state, according to an official statement.

Shreesatya Mines Pvt Ltd was the highest bidder for a coal block in Jharkhand on the third and the last day of the second round of bidding under the commercial coal auction, the coal ministry said in a statement.

While CG Natural Resources quoted a six per cent premium on the reserve price of Khargaon coal mine in Chhattisgarh, Prakash Industries Ltd quoted a 55.75 per cent premium on the reserve price for Bhaskarpara mine in the state, the statement added.

As far as Shreesatya Mines Pvt Ltd is concerned, it quoted a 54.50 per cent premium on the reserve price of Burakhap Small Patch block in Jharkhand, the statement said.

''Three coal mines (two in Chhattisgarh and one in Jharkhand) were up for electronic auction on Day 3 of auction,'' it said.

While the Burakhap Small Patch mine with geological reserves of 9.68 million tonnes (MT) has a peak rated capacity (PRC) of 0.4 million tonnes per annum (MTPA), Bhaskarpara with geological reserves of 46.91 MT has PRC of 1 MTPA.

Both the blocks are fully explored.

Khargaon is a partially explored mine with geological reserves of 250 MT.

''The blocks, put on auction by the Ministry of Coal, saw stiff competition from bidders who had submitted their bids for these blocks,'' the ministry said.

Sunflag Iron and Steel Company Ltd had emerged as the highest bidder for a coal block in Maharashtra on the second day of auction on Tuesday.

Shreesatya Mines Pvt Ltd had emerged as the highest bidder for another coal block in Jharkhand.

The technical bids submitted by the bidders were evaluated and the list of technically qualified bidders was published.

Pursuant to this, the coal ministry commenced the electronic auction of the coal mines from Monday.

The e-auction process for all the mines was completed on Wednesday.

Three coal mines -- one each in Maharashtra, Jharkhand and Chhattisgarh -- were put up for auction on the first day of auction on Monday.

Adani Power Maharashtra Ltd emerged as the highest bidder for Gondkhari mine in Maharashtra.

While South West Pinnacle Exploration Ltd emerged as the highest bidder for Jogeshwar and Khas Jogeshwar block in Jharkhand, CG Natural Resources Pvt Ltd emerged as the highest bidder for Jhigador mine in Chhattisgarh.

The auction process of 67 coal mines for sale of coal was launched by the Nominated Authority, Ministry of Coal, on March 25.

The total number of mines successfully auctioned in the first tranche of auction for commercial mining was 20 out of the total 38 coal mines offered, the coal ministry had earlier said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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