Get ready for a new wave of opportunities in the coal sector! The central government is gearing up to kick off the 10th round of commercial coal block auctions soon. This exciting news comes straight from the Union coal ministry, which made the announcement on June 14.
Next week, the newly-appointed coal minister, G Kishan Reddy, will officially launch this auction round. And here’s the kicker – a whopping 62 blocks will be up for grabs, all without any end-user restrictions. That means whoever snaps up these blocks can freely sell the coal they produce in the open market.
This auction is part of a bigger picture that started back in June 2020 when Prime Minister Narendra Modi launched the commercial coal auction initiative. Since then, the coal ministry has been busy, auctioning off 107 blocks across nine rounds, with a peak rated capacity of 256 MT.
The results are already showing. Out of all the auctioned blocks, 11 are now operational and churning out coal. In fact, these commercial blocks have already produced around 17.5 MT of coal.
But wait, there’s more! To make life easier for bidders, the ministry has developed a nifty coal block portal on the PM Gatishakti National Master Plan. This one-stop-shop provides all the geographical info bidders need about the blocks, right at their fingertips.
