No takers for 15 coal mines up for auction

India has received no bids for 15 of the 38 mines to be auctioned as a part of its plan to open up coal mining to private companies. “A total number of 82 bids from 46 companies have been received off-line in the office of the nominated authority for 23 coal mines” coal ministry said in a statement on Monday. PM Narendra Modi opened up coal mining to the private sector this year, which was largely restricted to CIL and its subsidiaries. In a statement released after the deadline for the submission of bids, the coal ministry said that only 23 of the 38 mines received bids and only 20 of them got more than one bid. India’s largest coal trader Adani Enterprises Ltd, and Jindal Steel and Power Ltd were among the companies that submitted bids, according to sources.