India seeks to further liberalize its coal mining regime to ensure greater participation of all stakeholders, by allowing bidders to submit preferences for future mine auctions.
Besides, as part of the Centre’s plan to usher in structural reforms in the coal sector, state-run Coal India Ltd is looking to merge e-auction windows to move toward a ‘one price for one coal grade’ system. Coal and mines minister Pralhad Joshi announced the proposed initiatives at the launch of the second tranche of commercial coal mine auctions on Thursday.
The moves assume significance considering that India has the world’s fourth largest reserves and is the second-largest producer of coal. With global shift to green energy to address growing environmental concerns, the Indian government is trying to harness coal reserves within the next three decades.
