Coal Ministry has revised the schedule for conducting the second tranche of auction of commercial coal mines.
The auction would be conducted on August 9 as against earlier date fixed at July 26, as per the revised schedule. The Bid Due Date has been extended to July 8.
Banks to fund block acquisition
Indian banks may begin funding of commercial coal blocks acquired through the auction. “Banks are considering financing of blocks,” an official of the SBI Caps, which is the transaction partner for the auction, said while replying to queries at a recent stakeholder’s meeting.
“Last year we imported 215 million tons of coal. Also, as per National Coal Index data, prices continue to go up. This is the best time to invest in the coal sector,” he said while addressing the event.
Impact of surface infrastructure on mining
Coal Ministry’s nominated authority M Nagaraju said that in any block, where there is presence of surface infrastructure which might prevent exploration of coal, the affected coal reserve would be deducted accordingly.
Such exercise was has been done for Basantpur block and other blocks saving such surface infrastructure would also be considered, he said.
In the Burapahar block, a proposed rail corridor passes through the western part of the block which might impact mining operations, the ministry has told the bidders during a stakeholders’ meeting.
Indian Port Rail and Ropeway Corp Ltd is entrusted with the job of preparation of pre-feasibility study of the railway line from Sardega to Pelma by MCL and this is in conceptualisation stage.
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Denne historien er fra June 2021-utgaven av Coal Insights.
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