Government launches 2nd tranche of auction for commercial coal mining for 67 blocks

India has launched its 2nd Tranche of the auction for commercial coal mining offering 67 mines for sale of coal today. This is the highest number of mines on offer in a particular tranche of the auction after the commencement of the auction regime since 2014. Coal Minister Pralhad Joshi launched the auction process in a programme held in New Delhi.

Mr Joshi in a tweet said, "This tranche of the auction has the largest number of mines on offer in a single tranche. 67 mines are being offered which are a mix of mines with small and large reserves, coking and non-coking mines and fully as well as partially explored mines."

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

In another tweet, Mr Joshi said, "At the launch of the 2nd tranche of the auction for commercial mining of coal, spoke about clubbing e-auction windows to move towards One Price For One Coal Grade. The Govt is also considering Rolling Auctions for conducting future auctions to help make the process continuous."

Speaking on the occasion, Mr Joshi said, the government is making coal the driver of economic activities in the country and there are huge opportunities that the Indian coal sector is offering. He invited investors to come and be a part of vastly untapped coal reserves in the country. The Minister said, Commercial coal mining will bring in new investments, create huge employment opportunities and boost socio-economic development in coal-bearing states. He said, a market-based coal economy will help the nation become Aatmanirbhar in coal.