Left Menu
Development News Edition

Consultative meetings with stakeholders to discuss methodology for commercial coal mining on Jan 28-29

Consultative meetings with stakeholders to discuss methodology for commercial coal mining on Jan 28-29
Image Credit: Wikimedia

In line with its plans to open up the country's coal sector, the government has called meetings with various stakeholders to discuss the draft methodology as well as key bidding terms and conditions for auction of coal mines for commercial mining. This meeting will be held in Kolkata and Mumbai on January 28 and 29, respectively, the coal ministry said in a notice.

"All interested stakeholders are encouraged to view the discussion paper and the mine specific details and attend the stakeholder's consultation meet," it said.

The notice said that the process for auction of coal mines for sale of coal under the Coal Mines (Special Provisions) Act, 2015 and the Mines and

Minerals (Development and Regulation) Act, 1957, has been initiated. "A discussion paper containing the draft methodology and key bidding terms and conditions on the auction of coal mines for sale of coal has already been uploaded on the website of Ministry of Coal," it said adding that in this regard, "roundtable meetings for stakeholders' consultation" are scheduled on January 28 and 29, 2020.

Earlier, this month the government had said that it is initiating the process of coal auctions and the first round of sale of blocks under commercial mining is proposed to be launched in the ongoing fiscal. The announcement came days after the government approved an ordinance to ease coal mining laws that will see more local and global players enter the Indian coal sector.

A company or a joint venture company incorporated in India is eligible to participate in commercial coal auctions, the coal ministry had said in a statement. "Moving ahead after the recent amendments in MMDR Act 1957 and the CMSP Act 2015, the Ministry of Coal is initiating the process for auction of coal mines for sale of coal. Expected to be held in multiple tranches, the first tranche is proposed to be launched in the current financial year," the government said said.

The bidders would be required to bid for a percentage share of revenue payable to the government. The floor price shall be four per cent of the revenue share, the coal ministry notice said. The government has released a list of 74 mines which it plans to auction under commercial mining.

The ministry had said it has urged interested stakeholders to view the discussion paper and the mine specific details and submit their views/suggestions, indicate their preferences for the mines to be considered for auction under the first tranche.

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

Download The Devdiscourse News App for Latest News.



Future of Food: Technology fostering the road to global food security

Technological innovation can help address most of the pressing issues facing the world today including food security by enhancing productivity, improving financial services, managing resources, addressing environmental concerns, etc....

Conspiracy theories on COVID 19: Legislators, Scientists, and Journalists all joined the Caravan

Conspiracy theories are not new for virus epidemics. There have been conspiracy theories on HIV-AIDS, Polio Vaccines, Ebola Virus, and several other diseases as well. However, what makes the 2019 Novel Coronavirus different from others is ...

Now it’s a war, Uganda deploys army to combat locust swarms

Its for the first time after 1986, the locust swarms have attacked Uganda twice in a season. With the increasing number of countries of Africa under attack by locust swarms, the problem seems to have taken a regional paradigm. Its very diff...

Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...


Latest News

Failure of leadership on human rights: Bernie Sanders on Trump response to Delhi violence

Terming it a failure of leadership on human rights, Democratic presidential front-runner US Senator Bernie Sanders, on Wednesday slammed President Donald Trump over his response to violence in North-East part of Delhi, which took place duri...

Canucks look to further Senators' slump

After opening a four-game trip on a positive note, the Vancouver Canucks look to continue their recent run of overall success. The Canucks aim for a third consecutive victory while trying to hand the host Ottawa Senators a fifth straight lo...

UPDATE 2-Senator Rubio seeks U.S. review of sale of AT&T unit to Czech-owned conglomerate

U.S. Senator Marco Rubio on Wednesday asked the Trump administration to review the national security implications of ATTs Incs planned sale of its majority stake in Central European Media Group Enterprises CME to the Czech-owned conglomerat...

Facebook bans ads with false claims about new virus

San Francisco, Feb 27 AP Facebook said Wednesday that it is banning ads that make false claims about products tied to the new coronavirus. The social network said it is removing ads that feature a product and imply a limited supply, seeking...

Give Feedback