Coal India is considering switching to a global open-tender
mode for developing its abandoned mines, a development that could inordinately
delay the project. CIL was hoping to float these joint ventures by
the middle of 2010.
The world's largest coal miner is seeking to develop some 18 old mines with a
total reserve of 1.6 billion tonnes of high-quality coking and thermal coal
under joint venture arrangements with global underground mining companies. It
had sought preliminary expressions of interest and had short-listed 10
companies.
But since CIL drew no response from them in the first round of tendering, it
was forced to relax some conditions in the second phase, which is now under
way. However, if this round also fails, the company may go for open global
tendering, a process under which anybody can bid and there will not be any preliminary
short-listing.
The abandoned mines include six of Eastern Coalfields, eight of Bharat
Coking Coal and four Central Coalfields mines. And the short-listed
firms included ArcelorMittal India, Rio Tinto, Titan Mining Company, JSW
Steel, JSW Energy,Monnet Ispat, Essar Mineral Reserves, SNT Mining and
Sunflag Iron & Steel.
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