The Coal Ministry announced Friday that it had received ten offline bids for 7 coal mines. The govt put 39 blocks up for auctions in the eighth round of the coal mine auction, which was held in November.
The coal ministry said in a statement that ten offline bids in total have been received for 7 coal mines, with two or more bids received for two coal mines.
On Monday, the online bids that were submitted during the auction process will be made available. According to the ministry, encouraging private sector involvement in the coal mining industry and raising coal production are the main goals of the start of the eighth round of business coal mining auctions.
The coal ministry had previously stated that the Center’s progressive policies have sped up the process of giving mines to the private sector, and more new players are probably going to participate in the upcoming auctions.