The Adani Group entities have won three of the eight mines, which were hammered in the second tranche of the commercial coal mining auctions. On the final day of the auction round, CG Natural Resources, a subsidiary of Adani, won the Khargaon mine in Chhattisgarh against the highest bid of 6% revenue share. It had also won the Jhigador mine in Chhattisgarh on the first day of auctions on Monday, while Adani Power Maharashtra had bagged the Gondkhari block in Maharashtra on the same day.
For the other two blocks offered in the final day, Kolkata-based Shreesatya Mines became the preferred bidder for the Burakhap Small Patch block in Jharkhand by offering the highest revenue share of 54.5%, and Prakash Industries cited the 55.8% revenue share for the Bhaskarpara mine in Chhattisgarh. Jharkhand’s Rauta Closed block received the highest offer of 75.5% revenue share to the state government, which was won by newly incorporated Shreesatya Mines on Tuesday. The other coal block winners in this last stretch are South West Pinnacle Exploration and Sunflag Iron and Steel.
The first round of auctions, held in November last year, saw bids from national and local companies, where the highest premium received was 66.8%, while the average premium quoted was 27%. Up to 20 mines of the 38 offered could be auctioned in the first auction round in 2020. The Union Ministry of Coal had offered 67 blocks in the second auction round for commercial mining, of which only eight mines could finally be put up for auction. bidding.