Government to auction coal mines

The government has kick-started the process to auction 27 coal mines & allot 15 coal blocks to public sector undertakings, according to the Ministry of Coal. These mines are expected to produce approximately 70 million tonnes per annum at Peak Rated Capacity. Out of these 27 mines that are to be auctioned, 21 are for end-use non-regulated sectors; while 6 coking coal mines have been designated for end-use iron and steel sector. Five out of the 15 blocks will be allotted to power sector PSUs, nine for the sale of coal and one for the iron and steel sector. Metal Scrap Trading Corporation (MSTC) is the platform for electronic bidding.