How do I participate in a coal auction?
Only those customers registered with www.mstcecommerce.com as a buyer of coal shall be eligible to participate in e-Auction of coal. 3. The rate of EMD is Rs. 200/- per tonne of coal for Coal India Limited or as specified by respective coal companies.
What is coal auction?
The Central Government promulgated the Coal Mines (Special Provision) Act, 2015 to enable the Government to re-allocate the 204 coal blocks which were cancelled by the Hon’ble Supreme Court of India. The Act permitted auction of coal mines for commercial mining by private entity.
What is coal block auction?
Commercial coal block auctions are conducted in a two-stage online bidding process, which involves technical screening and submission of competitive initial price offer in the first stage, and a second and final stage where better price offers are intended to be received.
What is mine auction?
allocation of mineral blocks or grant of mining leases through e-auction process. • It was aimed to bring greater transparency in allocation of mines. • MSTC Limited was appointed to conduct the e- auction process.
How can I purchase coal?
If requirement is less than 4200 tonne per annum, you can procure coal from agency nominated by your states at a price not exceeding 105% of base price at which coal was purchased by the agency from linked coal companies. Coal also can be procured from spot e auction with a minimum bidding quantity of 50 tonne.
Can states auction coal mines?
Except for coal, states are allowed to auction other mines in consultation with the mines ministry. Parliament in September 2020 approved an Ordinance promulgated in June to improve revenue from the mining sector and the Centre now wants states to carry out these changes too.
How do you mine coal?
Surface coal mining generally involves the following sequence of unit operations: (1) clearing the land of trees and vegetation, (2) removing and storing the top layers of the unconsolidated soil (topsoil), (3) drilling the hard strata over the coal seam, (4) fragmenting or blasting the hard strata with explosives, (5) …
Do coal blocks burn?
Coal block burns forever and can be lit on the sides.
How is coal purchased in India?
State-controlled producer Coal India (CIL) is permitting exports of coal sold through its electronic or e-auctions in a move aiming to trim its high inventories. CIL, which meets more than 80pc of India’s coal needs, removed the embargo on coal exports purchased through e-auctions, the company said.
What are coal blocks used for?
A block of coal can be used as a fuel in a furnace to smelt/cook 80 items (1 block of coal will burn in a furnace for 800 seconds). This makes the block of coal the second best fuel in the game with the lava bucket still lasting longer. Let’s explore how to make a block of coal.
What is the coal index?
NCI is a price index combining the prices of coal from all the sales channels- Notified Prices, Auction Prices and Import Prices. The amount of revenue share per tonne of coal produced from auctioned blocks would be arrived at using the NCI by means of defined formula.