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More new players enter commercial coal mining on Day-4 of auction

The two mines on offer today were both picked up by first-time bidders

coal mines
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The Centre for the first time is awarding coal mines for commercial mining and sale to private companies

Shreya Jai New Delhi
More new companies emerged as highest bidders on the fourth day of the commercial coal mining auction on Thursday. While Ranchi-based Fairmine Carbons bagged the Rajhara mine in Jharkhand, Sahapur East mine of Madhya Pradesh went to Chowgule & Company, a Goa-based shipyard firm.

Fairmine Carbons, which was formed in July this year, quoted the highest closing bid of 23 per cent premium on the revenue share to the mine-bearing state. According to corporate submissions, the company manufactures coke, refined petroleum products, and nuclear fuel. 

For the Sahapur East mine, Chowgule & Company bid 41 per cent premium on the revenue share.

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