India To Allow Captive Mines To Sell Coal In Open Market


India To Allow Captive Mines To Sell Coal In Open Market

India’s cabinet approved a policy on Tuesday that allows owners of coal mines that produce solely for their own use, known as “captive coal mines, to sell 25 percent of their output in the open market.

The move seeks to “increase competitiveness” and address a tepid response to captive coal mine auctions, and would lead to higher revenue for the government, the government said in a statement.

The move comes months after India’s cabinet approved a commercial coal mining policy, which enables companies to bid for mines from which they can sell all the coal in the open market. Read more

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