The Ministry of Coal, after a long gap of 4 years, has approved the allocation of five Coal Mines. This was the result of the electronic auction conducted by Ministry of Coal in November 2019.
About:
The five Coal Mines allocated are:
Bikram (Madhya Pradesh)
Brahampuri (Madhya Pradesh)
Bhaskarpara (Chhattisgarh)
Jagannathpur B (West Bengal)
Jamkhani (Odisha)
Of the five mines, two were allocated to Birla Corporation Ltd and one each to Vedanta Ltd, Prakash Industries Ltd and Powerplus Traders Pvt Ltd.
The significant feature of the allocations is that for the first time, the successful bidders shall have the flexibility to sell 25% coal produced in the open market. This will boost the coal production in the country and reduce the dependence of industries on imported coal.
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