The 100 closed Coal India Ltd ( CIL) mines, the coal ministry has proposed offering for resumption of operation will be kept under the ownership of the PSU miner itself, though offered for production via an auction bidding route.
” The ownership of the mines will be retained by Coal India only. It will be in the model of mine developer and operator (MDO) that coal will be mined under revenue sharing basis. There will be no transfer of ownership of mines,” a senior CIL executive told Fe adding the entire idea is to add more coal to the country’s energy basket and extract the reserves to its fullest. This would also fetch revenue to CIL from assets lying ideal.
