Latest News | Eighth Round of Commercial Coal Mines Auction to Be Launched on Nov 15; 39 Blocks to Be Put on Sale
Get latest articles and stories on Latest News at LatestLY. A total of 39 mines will be put on sale in the eighth round of commercial coal mines auction, which will be launched on Wednesday, the government said on Monday.
New Delhi, Nov 13 (PTI) A total of 39 mines will be put on sale in the eighth round of commercial coal mines auction, which will be launched on Wednesday, the government said on Monday.
Pursuant to the launch of the first tranche of commercial coal mine auction by Prime Minister Narendra Modi in June 2020, a total of 91 coal mines in seven tranches have been put on sale.
"A total of 35 coal mines will be offered in the upcoming round comprising 11 under the Coal Mines (Special Provisions) Act, 2015 and 24 under the MMDR Act 1957... Additionally, four coal mines are being offered under the second attempt of round seven of commercial coal auction," the coal ministry said in a statement.
The launch of the eighth round of commercial coal mining auctions is a significant step towards promoting private sector participation in the coal mining industry and increasing coal production, it said.
"The Ministry of Coal is gearing up for the launch of the eighth round of auctions for commercial coal mines on November 15, 2023 marking further significant leap in the Coal sector and taking a step forward, towards making India Atmanirbhar in coal," the ministry said.
Coal and Mines Minister Pralhad Joshi will be the chief guest at the launch of the next round of auctions, as per the statement.
The Centre's progressive policies have amounted in faster allocation of mines to the private sector and the upcoming auctions is likely to have participation of more new players, it added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)