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The Indian Ministry of Coal issued the tender rules a week after the Indian government announced its historic decision to allow private and foreign companies to bid for coal mines in India
.
The tender rules set out the openness of India's coal sector, indicating that the highest price bid will be successful, will not restrict the sale or use of coal from the winning mines, and measures
such as production flexibility.
The following are the main contents of the bidding rules issued by the Ministry of Coal on February 27:
It will be an upward positive bidding auction;
The reserve price should be determined in accordance with the December 2014 Circular;
The highest price offer will win the target;
There are no restrictions on the sale/use of coal;
Successful bidders have production flexibility;
However, according to the mining plan, the actual production cannot be less than 50% of the planned production;
Over a five-year period, at least 70% of production will be mined under the mining plan;
In order to capture the increase in revenue from rising coal prices, the final quotation related to the coal wholesale price index (relevant grade) will be adjusted annually;
Up to 100% FDI can be allowed in coal mining activities, including related processing infrastructure;
Relevant environmental regulations will apply to coal
washing.
At present, India's Ministry of Coal has not released details and timetable
for coal sales for tendered mines.
The Indian Ministry of Coal issued the tender rules a week after the Indian government announced its historic decision to allow private and foreign companies to bid for coal mines in India
.
The tender rules set out the openness of India's coal sector, indicating that the highest price bid will be successful, will not restrict the sale or use of coal from the winning mines, and measures
such as production flexibility.
The following are the main contents of the bidding rules issued by the Ministry of Coal on February 27:
It will be an upward positive bidding auction;
The reserve price should be determined in accordance with the December 2014 Circular;
The highest price offer will win the target;
There are no restrictions on the sale/use of coal;
Successful bidders have production flexibility;
However, according to the mining plan, the actual production cannot be less than 50% of the planned production;
Over a five-year period, at least 70% of production will be mined under the mining plan;
In order to capture the increase in revenue from rising coal prices, the final quotation related to the coal wholesale price index (relevant grade) will be adjusted annually;
Up to 100% FDI can be allowed in coal mining activities, including related processing infrastructure;
Relevant environmental regulations will apply to coal
washing.
At present, India's Ministry of Coal has not released details and timetable
for coal sales for tendered mines.
