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Coal mines auction News

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Taking forward its decision to open up the coal sector for commercial mining, the government may allot more than 10 coal blocks to PSUs in the current fiscal for production and sale of the fossil fuel.
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The first day of third tranche of coal mines auctions Tuesday saw government garnering a total of Rs 2,529 crore from bidding of two blocks in Chhattisgarh and Maharashtra.
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Paving way for additional foreign investment in insurance and to move ahead with the re-allocation of cancelled coal mines, President Pranab Mukherjee on Friday signed the two ordinances in this regard.
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Government is expected to soon come out with an "Approach Paper" to elicit views of stakeholders on the process of auction of coal blocks.






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