Commercial Mining: Vedanta, Hindalco Among 20 Bidders For Coal Blocks

Vedanta Ltd, Hindalco Industries, Adani Power Maharashtra and Bharat Aluminium Company Ltd (Balco) are among the 20 companies that have submitted bids for 19 coal mines put up for sale in the second round of auctions for commercial mining.

Of the total 34 bids submitted by these firms, the maximum (four each) were from Aurobindo Realty & Infrastructure Pvt Ltd and Sunflag Iron and Steel Company Ltd.

Three bids each came from Shree Satya Mines Pvt Ltd and South West Pinnacle Exploration Ltd.

Adhunik Power & Natural Resources Ltd, CG Natural Resources Pvt Ltd and Jhar Mineral Resources Pvt Ltd submitted two bids each.

Companies like Vedanta, Hindalco Industries Ltd, Bharat Aluminium Company Ltd and Adani Power Maharashtra Ltd put in one bid each.

"A total of 20 companies have submitted their bids in the auction process," the coal ministry said in a statement.

A total of 34 bids have been received for the 19 coal mines, of which 10 are fully explored mines and nine are partially explored.

Four of these mines are coking coal mines while the remaining 15 are non-coking coal ones.

"Two or more bids have been received for eight coal mines," the statement said.

The online bids were decrypted and opened electronically in the presence of the bidders. Subsequently, sealed envelopes containing offline bid documents were also opened in the presence of bidders. The entire process was displayed on the screen for the bidders, it said.

The bids will be evaluated by a multi-disciplinary technical evaluation committee. The technically qualified bidders would be shortlisted for participation in the electronic auction to be conducted on MSTC portal, the statement said.

The last date of submission of technical bid was Thursday.

"As part of the auction process, technical bids comprising of online and offline bid documents were opened today...at New Delhi, in the presence of the bidders," it said..

The auction process of 67 coal mines for sale of coal was launched by the Nominated Authority, Ministry of Coal, on March 25.

This is the highest number of mines on offer in a particular tranche after commencement of the auction regime in 2014.

Out of the total 67 mines offered by the ministry, 23 are under Coal Mines (Special Provisions) Act and 44 under Mines and Minerals (Development and Regulation) Act.

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

The total number of mines successfully auctioned in the first tranche of auction for commercial mining was 20 out of the total 38 coal mines offered, the coal ministry had earlier said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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