India’s Ministry of Coal has executed agreements with the eight successful bidders pursuant to the auction of second tranche of coal mines for commercial mining. Eight coal mines have been successfully auctioned with the winning percentage of revenue share ranging from 6% to 75.5% with an average % revenue share of ~30%.The electronic auction of these mines was conducted in the first week of August this year.The mines for which these Coal Mine Block Production and Development Agreements were executed are Bhaskarpara, Burakhap Small Patch, Gondkhari, Jogeshwar& KhasJogeshwar, Rauta Closed Mine, Bhivkund, Jhigador and Khargaon. The Successful Bidders include Sunflag Iron & Steel Company Limited, South West Pinnacle Exploration Limited, Prakash Industries Limited, CG Natural Resources Private Limited, Adani Power Maharashtra Limited and Shreesatya Mines Pvt Ltd.SBI Capital Markets Limited, sole Transaction Advisor to Ministry of Coal for the Commercial coal mine auction, had devised the methodology and assisted Ministry in conduct of the auction.
India’s Ministry of Coal has executed agreements with the eight successful bidders pursuant to the auction of second tranche of coal mines for commercial mining. Eight coal mines have been successfully auctioned with the winning percentage of revenue share ranging from 6% to 75.5% with an average % revenue share of ~30%.The electronic auction of these mines was conducted in the first week of August this year.The mines for which these Coal Mine Block Production and Development Agreements were executed are Bhaskarpara, Burakhap Small Patch, Gondkhari, Jogeshwar& KhasJogeshwar, Rauta Closed Mine, Bhivkund, Jhigador and Khargaon. The Successful Bidders include Sunflag Iron & Steel Company Limited, South West Pinnacle Exploration Limited, Prakash Industries Limited, CG Natural Resources Private Limited, Adani Power Maharashtra Limited and Shreesatya Mines Pvt Ltd.SBI Capital Markets Limited, sole Transaction Advisor to Ministry of Coal for the Commercial coal mine auction, had devised the methodology and assisted Ministry in conduct of the auction.
