Coal block auctions begin, fierce as before
The third tranche of coal blocks auction started on Tuesday and the aggressiveness among the bidders have refused to die.
On Tuesday, the first day of the bidding, two mines – Marki Mangli-I and Bhaskarpara – reserved for the unregulated, or non-power sector, were put on auction.
The government could attract for Marki Mangli-I mine in Maharashtra bid touching Rs 715 a tonne from Topworth Urja & Metals, which was 40% above the floor price of Rs 505 a tonne.
At this price, the mine, located in Yavatmal district would fetch the Maharashtra government Rs 712 crore during the life of the mine.