The Indian Coal Ministry has put few auctioned blocks on hold for proper evaluation. The government has now decided to give ownership for certain chosen blocks only.
The Indian Coal Ministry has finished auction of 31 Coal blocks in two phases i.e. Schedule II & III. Ownership rights to schedule II block winners will be granted on 23 Mar’15.
However, the ministry has put ten auctioned Coal blocks on hold – four from the first & six from the second phase. As per IMG reports, these ten blocks came under the scanner for receiving low value bids. The ministry will further decide the fate of these blocks.
Schedule II
The Ministry had completed Schedule II on 22 Feb’14 with successful auction of 18 blocks. Post auction, the ministry has put four blocks (under production) on hold for detailed evaluation. These blocks have been excluded from vesting their ownership to the winners.
An official said that the ministry is yet to take a call on whether to re-auction these four blocks.
Schedule III
Schedule III was completed on 9 Mar’15 with auction of 14 Coal blocks. Out of these 14, the ministry has put six auctioned blocks on hold. The six excluded coal blocks are – Brinda and Sasai (one bid was invited for both the block), Meral, Dumri, Tara and Mandla South blocks.
List of Excluded Coal Blocks from Ownership Agreement
| Mine | Erstwhile Holder | Won | Win Price | Reserves | State | End Use Project | Phase |
| Marki Mangli III | Topworth Urja and Metals | BS Ispat | 918 | 4.2 | Maharashtra | Iron & Steel | Schedule II |
| Gare Palma IV/2 & 3 | JSPL | JSPL | 108 | 155 | Chhattisgarh | Power | Schedule II |
| Gare Palma IV/1 | JSPL | Bharat Aluminium Company (BALCO Vedanta Group) | 1585 | 49.57 | Chhattisgarh | Iron & Steel | Schedule II |
| Brinda and Sasai | Abhijeet Infrastructure | Usha Martin | 1,804 | 24 | Jharkhand | Iron & Steel, Cement & CPP | Schedule III |
| Meral | Abhijeet Infrastructure | Trimula Industries | 727 | 12.67 | Jharkhand | Iron & Steel, Cement & CPP | Schedule III |
| Dumri | Nilachal Iron & Power Generation | Hindalco Industries | 2,127 | 46.13 | Jharkhand | Iron & Steel, Cement & CPP | Schedule III |
| Tara | CG Development Corporation | Jindal Power | 126 | 166.9 | Chhattisgarh | Power | Schedule III |
| Mandla-South | Madhya Pradesh State Mining Corporation | Jaypee Cement Corporation | 1,852 | 13.3 | Madhya Pradesh | Iron & Steel, Cement & CPP | Schedule III |
Win price in INR/MT
Reserves in MnT
Source: SteelMint Research
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