India launched Its 2nd Tranche Of Auction For Commercial Coal Mining:
India launched its 2nd Tranche of the auction for commercial coal mining offering 67 mines for the sale of coal. Union Coal Minister launched the auction process.
- 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.
- Out of the total 67 mines offered by the Ministry of Coal, 23 mines are under CM(SP) Act and 44 under MMDR Act.
- The coal mines on offer are spread across 6 States Chhattisgarh, Jharkhand, Odisha, Madhya Pradesh, Maharashtra and Andhra Pradesh.
- Government of India is moving towards adopting a ‘Rolling Auction’ mechanism for conducting future auctions.
- Coal is the first mineral resource where a Rolling Auction mechanism is being implemented in which a pool of coal blocks will always remain available for auctions.