India Launches Coal Auction

Mining Weekly reported that India has launched its maiden auction of coal blocks in the middle of aggressive bidding by user industries.

As quoted in the market news:

The weekend saw five coal blocks put up for auction in the first phase of allocating coal block resources through competitive bids. The blocks were offered to two user segments; one where end-use prices are unregulated, like steel, cement and aluminium companies, and the second where prices are regulated, like thermal power producers.

Click here for the full Mining Weekly report