Fairmine Carbons and Chowgule and Company have won one coal mine each on the fourth day of commercial mining auctions.
Two coal mines were up for grabs on the fourth day of the commercial mining auctions — Sahapur East in Madhya Pradesh and the Rajhara North (Central and Eastern) mine in Jharkhand.
Under the commercial coal mining bid rounds, companies are competing on the share of revenue they would share with the State government to bag a coal mine. There is no end-use restriction on the coal that is excavated from these mines.
Five mines were auctioned on Monday (November 2), four on Tuesday (November 3), and three (two in one block) on Wednesday (November 4). The remaining will be auctioned by November 9. In all, the Ministry of Coal wants to auction 19 mines for commercial coal mining.
An official statement said that bidding for the Rajhara North (Central and Eastern) mine has closed at 23 per cent revenue share commitment. Fairmine Carbons outbid Adani Enterprises, Nilkanth Coal Mining, and Saraf Trading Company for this mine.
Bidding for the Sahapur East mine closed at 41 per cent with Chowgule and Company quoting the highest. Aurobindo Reality and Infrastructure, JMS Mining, and Sarda Energy and Minerals were also in the fray for this mine.