As compared to the last twin tranches of coal-block auctions, the coal ministry has received “overwhelming” response for the latest invitations for 19 captive mines, claimed sources, adding that as many as 69 companies have purchased the tender documents priced at ₹5 lakh. The last two auction-tranches for the coal blocks, where 15 mines were offered, had to be cancelled as they could not even elicit three bidders to participate. The positivity on this score attributed to the positive reaction from the industry to the changes incorporated in the auction terms, such as, allowing private companies to sell up to 25% of production from the captive mines in the open market. There are 11 mines for which more than three parties want to bid for and also to regain the interest of private players, the tender terms were amended as per the recommendations of the high power expert committee formed under the chairmanship of former chief vigilance commissioner Pratyush Sinha. Industry sources have attributed the complexities related to procuring environmental and forest clearances to begin coal mining as a major impediment to private participation in the auctions. The last date for receiving final bids have been extended to the middle of next for which the ministry official attributed the postponement to the requests from some companies who wanted more time to visit the coal mines and make financial arrangements.
