CCEA approves GoM’s recommendations for stressed assets

The CCEA has allowed coal block allocatees the flexibility to sell 25 per cent of their coal output in the open market on payment of additional premium. The committee has approved the methodology for allowing the allocatees for specified end use or own consumption to sell 25 per cent of the actual production on a run-of-the-mine basis in the open market on payment of additional premium on such sales under the Coal Mines (Special Provisions) Act, 2015, and the Mines and Minerals (Development and Regulation) Act, 1957. In the case of auctions/allotments, the successful bidder will be required to pay an additional premium of 15 per cent of its final bid price on a per tonne basis for the actual coal quantity sold in the open market.