April 20, 2026 07:49 am (IST)
Follow us:
Coal block auction sees aggressive bidding
New Delhi, Feb 19 (IBNS): Indian metal and cement companies have bid aggressively for coal blocks in the country's first auctions to sell mines, reports said on Thursday.
Four days after the coal block auctions began for the initial lot of 18 mines, the offers reportedly crossed Rs 60,000 crore on Thursday.
The Indian companies are bidding aggressively to cut imports and their dependence on inefficient government monopoly Coal India Ltd.
Earlier, the Supreme Court in September last year had cancelled the allotment of 214 coal mines to various companies since 1993.
In October, it had also issued an Ordinance to facilitate fresh allotment through auction.
The UPA government had only allowed the e-auction of coal and not mines.
Earlier Finance Minister Arun Jaitley had said that the entire process of re-allocation would be completed within three to four months.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Security alert at Srinagar Airport: Two US nationals detained after satellite phone found in luggage
Sun, Apr 19 2026
Modi’s Women’s Bill: Slow burner or strategic blunder?
Sun, Apr 19 2026
PM Modi apologises for women’s bill failure, accuses opposition of ‘foeticide’ of rights
Sat, Apr 18 2026
New Delhi summons Iranian envoy after firing on 2 Indian vessels in Strait of Hormuz
Sat, Apr 18 2026
‘Similar incidents in Axis Bank’: Maharashtra CM's wife Amruta Fadnavis on TCS Nashik case
Sat, Apr 18 2026