In the largest ever coal mine auction, India is bidding out 67 mines with a total resource base of 36 billion tonnes of fossil fuel in the second tranche of commercial coal mine auctions.
Also, starting form this tranche, the government is introducing a rolling auction mechanism “wherein any un-auctioned mine shall remain available for auction on the portal, with more mines being added as and when available,” said M. Nagaraju, additional secretary in the union coal ministry, and the nominated authority for these auctions in a ministry’ statement on Thursday.
India has the world’s fourth largest reserves and is the second-largest producer of coal. With global shift to green energy to address growing environmental concerns, the Indian government is trying to harness coal reserves within the next three decades.
