Commercial coal mining opened for private sector

Government today said it has opened commercial coal mining to the private sector. Replying to questions in the Lok Sabha, Coal and Mines Minister Prahlad Joshi said the policy for auction of coal mines blocks for sale of coal was issued on February 27th last year.

Mr Joshi said the objective of the policy is to create a market place for coal with multiple producers to drive competition and adopt best practices in mining as well as environment management.

He informed the House that auction of coal mines for sale of coal in a transparent manner is expected to encourage transparent pricing of coal based on market forces and enhance overall domestic production.

The minister said Coal India Limited, the largest company in the world in terms of coal production, sells coal to its linked power and non power consumers. (AIR NEWS)

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