Commercial coal mining: Non-end users extend their presence on Day 4

Financial bidding on Day 4 saw sale of the two coal blocks procured by firms not having captive coal requirement.

Auction for these blocks started on a higher note, as it received floor price which was comparatively superior to the average price recorded for the series of auction held previously. While Sahapur East witnessed fierce competition, the other lacked the same intensity in the final round.

Rajhara North coal block was acquired by Fairmine Carbons at a closing bid of 23% against floor price of 22%, beating the likes of Adani Enterprises which has now failed to bag a coal mine for the fourth successive day.

Better resistance was seen for Sahapur East comprising of premium quality coal, as it registered final price offer 15% higher than the floor price, recorded at 41%.

Four bidders were in contention for the block, eventually Chowgule and Company came out on top after almost 5 hours of intense bidding.

The firm was the only participant among the rest to have not won any block in the previous round, and grabbed the last opportunity with both hands after missing out on Sahapur West block on Day 2. Notably, the company has not shown interest for the sale of remaining coal blocks to be carried out as per schedule.