The government has offered 67 coal mines for sale, launching the second tranche of commercial coal mining auction and termed it a step towards ‘Aatmanirbhar Bharat’. This is the highest number of mines on offer in one particular tranche after commencement of the auction regime in 2014. “India launched its 2nd tranche of auction for […]
Government appointed liquidator has invited bids for the auction of Essar Power Jharkhand assets, as it is all set to go under the hammer on March 19, with the liquidator. The power firm owes Rs 4,165 crore to lenders, of which ICICI Bank has an exposure of Rs 3,625 crore. This marks one more company landing into […]
Only one bid has been received out of four coal mines that were put up for second attempt of auction under the 11th round of Coal Mines (Special Provisions) Act (CMSP Act), Parliament was informed this week. The technical bid for the Kuraloi (A) North mine in Odisha was received only from Vedanta Ltd. An Empowered […]
The Union coal ministry is planning to offer 64 new mines, with reserves of 30,505 million tonnes of coal, for the second tranche of the commercial coal auctions. To allay the fears of investors regarding environmental norms, the government has excluded mines falling in wildlife reserves and blocks in areas where there is more than […]
With shortfall in production and supply of iron ore from a large number of mines auctioned before expiry of leases on March 31, 2020, India’s mines ministry has proposed amendment in Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules (MCR), 2021 which prescribes stricter conditions against defaulting leaseholders. The draft amendment of […]
The Federation of All India Tea Traders Association (FAITTA), the apex body of tea trade in the country, has urged the Tea Board of India to undertake a thorough evaluation of the e-auction system before rolling it across India. The tea trade, which migrated from a manual auction system to e-auction format in 2016 as […]
India’s ministry of mines has proposed to terminate the iron ore leases of those working mines that have not started production even after 7-8 months of auction. Those mines which have not maintained minimum dispatch for three consecutive quarters are also sought to be terminated from the lease. The mines ministry proposed to do so […]
Reliance Industries and its partner BP will get only $4.06 a unit for the new gas they have started to produce from the eastern offshore KG-D6 field even though they have discovered a higher rate in an open market auction. Reliance-BP in November 2019 auctioned initial gas from the R-Series field at a biddable percentage of […]
India’s metals and minerals industry on Friday urged for an easing of production of iron-ore in the country to stem soaring prices of the steel-making material as well as of steel. Prices of iron-ore lumps supplied by state-run NMDC, the country’s largest miner, have increased by 112% in the last six months alone due to a […]
Gurugram-headquartered agri-tech startup Origo Commodities, primarily known for post-harvest agriculture supply chain management specialization, is getting ready to add major digital components to its operations before the end of the current fiscal. Speaking with indoasiancommodities, Sunoor Kaul, Co-Founder & Director of the firm said the company is all set to unveil a dedicated e-auction and […]
