Ministry of Coal (MoC) has concluded sales of four additional coal blocks on the second day of financial bidding round under sixth tranche of commercial mining scheme.
In a fresh sequence of events, Shreesatya Mines Pvt Ltd (SMPL) has bagged the Burakhap small patch coal blocks for the second time in these auctions.
It may be recalled that Burakhap block, having geological reserve close to 10 mnt, was first acquired by SMPL at a final price of 54.5% in the second tranche of auctions.
However, attempts made by SMPL to comply with the allotment norms were found inadequate as it failed to execute these payments within the stipulated time-period. Due to this, MoC had cancelled the allotment order for Burakhap coal block on grounds of prolonged delays in execution of statutory payments.
Subsequently, Burakhap was again put up for auction in the sixth tranche. This time SMPL booked the block by placing a winning price of 45.5%, thereby outbidding the other two contenders.
Cement companies extend foothold
Amongst the lot offered on Day 2, Dahegaon Gowari block located in Maharashtra was sold at a nominal price of 5.5% to Ambuja Cements.
There was modest contest seen for Marwatola VI block which was bagged by JSW Cement at a final price of 42.5% against floor price of 13.5%. This also marked dominance of cement companies in this round of auctions.
Earlier, Shree Cement, Dalmia Cement and Rama Cement Industries emerged as winner on day 1.
The remaining block left in the lot, Binja, went to Assam Mineral Development Corporation at a closing bid of 21.25%.
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