Ministry of Coal has executed agreements with the eight successful bidders pursuant to the auction of second tranche of coal mines for commercial mining in New Delhi today. These are tranche 12 under Coal Mines (Special Provisions) Act, and tranche two under Mines and Minerals (Development and Regulation) Act.<br />''<br />''Addressing the successful bidders, Coal Minister Pralhad Joshi congratulated them for their successful participation in the auction process. The Minister stressed that the Government of India and the Ministry of Coal are on a continuous journey to reform the coal sector and unlock values for the nation's economy. He said, the success of these auctions will help in further strengthening the vision of an Aatmanirbhar Bharat as it will help reduce India's coal imports.<br />''<br />''Mr Joshi appealed to all the coal bearing states to facilitate the opening of allocated coal mines so that India could make use of its abundant coal resources to ensure energy security for its citizens. The Minister announced that the next tranche of commercial mines auction would be launched in October-November this year. The details of most of these mines are already available in public domain and some more mines will be added in the list. Meanwhile, the Ministry of Coal is coming out very soon with tender document for second attempt of auction of 11 coal mines in the ongoing auction tranche for the coal mines, which have received single bids.<br />''<br />''Eight coal mines have been successfully auctioned with the winning percentage of revenue share ranging from six per cent to 75.5 per cent with an average per cent revenue share of ~30 per cent. The electronic auction of these mines was conducted in the first week of August this year.<br />''<br />''SBI Capital Markets Limited, sole Transaction Adviser to Ministry of Coal for the commercial coal mine auction, had devised the methodology and assisted Ministry in conduct of the auction.<br />''<br />''<span style="color: #000000;">The mines for which these Coal Mine or Block Production and Development Agreements were executed are Bhaskarpara, Burakhap Small Patch, Gondkhari, Jogeshwar and Khas Jogeshwar, Rauta Closed Mine, Bhivkund, Jhigador and Khargaon. The Successful Bidders include Sunflag Iron and Steel Company Limited, South West Pinnacle Exploration Limited, Prakash Industries Limited, CG Natural Resources Private Limited, Adani Power Maharashtra Limited and Shreesatya Mines Private Limited.</span><br />