CCEA approves methodology for auction of coal & lignite mines/ blocks

The Cabinet Committee on Economic Affairs, CCEA today approved the methodology for auction of coal and lignite mines or blocks for sale of coal or lignite on revenue sharing basis and increasing the tenure of coking coal linkage. This methodology provides that bid parameter will be on revenue sharing basis. The bidders would be required to bid for a percentage share of revenue payable to the Government. The floor price shall be 4 per cent of the revenue share. Bids would be accepted in multiples...