Bidding to be held online through a transparent two-stage process, on the basis of percentage revenue shareThe coal ministry launched the second attempt of the auction of 11 coal mines earmarked for the sale of coal last month. The government on Monday organised a pre-bid conference for prospective bidders for the sale of 11 coal mines. "Ministry of Coal has organised a pre-bid conference today for prospective bidders," according to an official statement. The auction will be held online through a transparent two-stage process, on the basis of percentage revenue share. Key features of the auction process include the introduction of the National Coal Index, ease in participation with no restriction for prior coal mining experience, full flexibility in coal utilisation, optimised payment structures, efficiency promotion through incentives for early production and the use of clean coal technology.

Source: The Telegraph October 11, 2021 14:03 UTC