Coal India jumps 4% as govt mulls offering 100 mines to private sector

NEW DELHI – Shares of Coal India added 4.2 per cent in early trade on Friday after the Coal Ministry said that it is considering partnerships with private companies to operate mines that had been previously shut or seen discontinued production by the state-owned company.

Coal India, which accounts for over 80 per cent of India’s output, was looking to offer more than 100 such mines to the private sector on a revenue-sharing basis in “due course of time,” the coal ministry’s statement read, according to reports.