Commercial coal miners need to pay 70% revenue share on lower output

KOLKATA: Commercial coal miners will have to pay at least 70% of the amount due to the Centre and states even if they produce nothing, but they will get a discount if they begin output early.

Blocks will be auctioned on the basis of revenue share offered to the government. It will be calculated on the basis of a Coal Index and mine capacity, paid every month. The coal ministry has recently readied the model for coal price index with help from the Indian Statistical Institute, which will indicate the price of coal.