Commercial coal mine auction may be completed this year: Coal Secretary
Auction of the coal mines selected by the government for commercial mining is likely to be completed by the end of March next year. The move is likely to end state-owned Coal India's near monopoly in the domestic coal market.On the sidelines of the 7th Asian Mining Congress & Exhibition, union coal secretary, Susheel Kumar said that the Cabinet Committee on Economic Affairs (CCEA) is likely to take the decision on the commercial mining proposal this month while by the end of this fiscal year; the allocation is likely to be completed. "The Cabinet is likely to take a decision this month. Thereafter, of course, the process would begin but the process is likely to take time and this financial year, it should happen", Kumar said.Previously, the ministry had asked for public comments from industry stakeholders to finalise the modalities of the auction and the allocation methodology which will thereafter follow.The ministry as well as Coal India, which commands 70 per cent of the...09-11-2017