New Delhi (NVI): The government has released a list of 74 coal mines which it plans to auction under commercial mining after it lifted restrictions on the mining regime and opened the gates for private entry.
A company or a joint venture company incorporated in India is eligible to participate in commercial coal auctions, the coal ministry said in a statement.
The Ministry of Coal is initiating the process for auction of coal mines for its sale. Expected to be held in multiple tranches, the first tranche is proposed to be launched in the current financial year.
Union Minister for Coal and Mines Pralhad Joshi said this is a historic step towards Ease of Doing Business and democratization of coal and mining sectors. Moving ahead after the recent amendments in Mines and Minerals (Development and Regulation) Act 1957 and the Coal Mines (Special Provisions) Act, 2015.
While releasing a list of 74 mines which it plans to auction under commercial mining, the Ministry of Coal has urged the interested stakeholders to view the Discussion Paper and the mine specific details, submit their views and suggestions, indicate their preferences for the mines to be considered for auction under the first tranche, as per the instructions provided in the Discussion Paper.
