"It has been decided to auction eight Schedule III coal mines earmarked for non-regulated sectors like, iron and steel, cement and captive power plants in the fourth tranche. The e-auction for these mines will be held from January 18 to January 22, 2016," Coal Secretary Anil Swarup said addressing the media here.
Directions have been issued to Joint Secretary, Coal, Vivek Bhardwaj, who is the nominated authority to conduct the auction, and the notice inviting tenders will be issued tomorrow, Swarup said.
"Commencement of sale of tender document will start from December 31 while the vesting order by the nominated authority to successful bidders will be issued by March 10," the Secretary said.
The Supreme Court in September last year had cancelled allocation of 204 coal mines to companies without auction.
The Secretary said Coal India is 'well on way of achieving 550 million tonne coal production target' for the current fiscal and has crossed the 300-MT output mark this week.


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