Expect India’s Coal Block Auction in March 2014

The Economic Times reported that India’s coal ministry has asked CMPDIL, a consultancy firm, for a report on the reserves of four more coal mines. That means the country’s coal block auction likely will take place in March 2014, not December 2013.

As quoted in the market news:

‘The auction of mines is likely by March next year,’ an official source said.

The Coal Ministry has asked CMPDIL, the mine planning and consultancy company of Coal India, to assess the reserves of four more mines and submit its report by next year, the official added.

The government which was initially planning to auction six mines in the first tranche is targeting to auction 10 blocks now, the official said.

Click here to read the full report from The Economic Times.