Nalco, NLC India among 10 companies submit bids for coal mines for auction

The government on Monday said 10 companies, including Nalco, Gujarat Mineral Development Corporation, and NLC India, submitted bids for coal mines put up for sale under the eighth round of commercial mines auction.

"Under the 8th round, a total of 35 coal mines were put up for auction and 7 bids were received against four coal mines. Under the second attempt of the seventh round, four coal mines were put up for auction and 3 bids have been received against 3 coal mines," the coal ministry said in a statement.

A total of 10 companies have submitted bids in the auction process, the coal ministry said in a statement.

Other companies from which the bids were received are TANGEDCO, OCL Iron, and Steel Ltd, JMS Mining Pvt Ltd, Shyam SEL & Power Ltd, SMN Tradecomm Pvt Ltd, Maa Durga Coal & Minerals Pvt Ltd, and Nilkanth Infra Mining Ltd.

"The nominated authority, Ministry of Coal has opened bids for the 8th round and second attempt of the 7th round of commercial coal mines' auction today (Monday)," the statement said.

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

Prime Minister Narendra Modi had in 2020 launched the auction of 41 coal blocks for commercial mining, a move that opened India's coal sector to private players.