After the success of the first round of coal auctions that fetched the government over Rs 1 lakh crore, the second round of coal auctions began on Wednesday.
Here's your 10-point cheat sheet to this story.
1) The second round of coal auction that started Wednesday, March 4 will go on till Monday, March 9.
2) A total of 15 coal blocks are up for auction in the second round.
3) The auction kicked off with four coal blocks on offer on Day 1. All four blocks are in Jharkhand. Usha Martin won the Brinda & Sasai mines for Rs 1804/ton. They are two separate blocks, but the government had clubbed them together. The others in the race for the clubbed blocks were BALCO and Sesa Sterlite. The mines were earlier held by Abhijeet Pvt Ltd. On Day 1, the other winners were Adani Power that got the Jitpur mine for Rs 302/ton and JSW Steel that bagged the Moitra mine for Rs 1512/ton
4) On Day 2 the Meral coal block went to Trimula Industries for Rs 727/ton. The other block up for grabs is Mandakini on the second day of the auctions. Firms like Adani Power, JSW Steel, SAIL and BALCO are in the race for the second round of coal block auctions.
5) The second phase is not expected to be as aggressive as in the first phase as the government is offering non-operational but soon-to-be producing coal blocks in the second leg of auctions.
6) Over 80 applications have been found to be technically qualified to bid for the mines being put on auction in the second round.
7) The first round of coal auctions saw aggressive bidding as they were for ready-to-operate mines.
8) The government which was to begin the auction of second lot of mines last month had to put it off to March 4 because of litigation issues.
9) In the first round of auctions that had 19 mines up for grabs, the government released the names of successful bidders for just 15 mines.
10) From the first round, the four mines that were not allotted are being re-examined by the Nominated Authority as there were some issues including pricing of the bids.
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