JSPL wins back Gare Palma-IV/1 mine on day three of coal auctions

The second and final round of e-auction started on Monday and 12 mines have been offered so far.

In a déjà vu of sorts, Jindal Steel & Power (JSPL) emerged the highest bidder for the Gare Palma-IV/1 coal mine in Chhattisgarh. JSPL quoted 25 per cent premium on the revenue share to the state. The mine belonged to the company before 2014 when a Supreme Court (SC) judgment cancelled all the coal block allocations made over two decades. It achieved the highest production before the SC judgment.

In 2019, JSPL won this mine in an auction held by the Centre for awarding mines for captive/self-use. The bid was cancelled by the Ministry of Coal, citing the bid to be