Commercial Coal Mine Auction May Be Completed This Year: Coal Secretary

Commercial Coal Mine Auction May Be Completed This Year: Coal Secretary

Auction of reserves selected for commercial mining is likely to be completed by the end of March, and this is likely to end state-owned Coal India’s near monopoly in the domestic market.

On the sidelines of the 7th Asian Mining Congress & Exhibition, Coal Secretary Susheel Kumar said the Cabinet Committee on Economic Affairs might take a decision on the commercial mining proposal this month. Allocations would be completed by the end of this financial year. “The Cabinet is likely to take a decision this month. The process would begin after that and it should happen this financial year,” Kumar said.

Previously, the ministry had asked for public comments from industry stakeholders to finalise the modalities of the auction and the allocation methodology. Read More…

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