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The Economic Times reported that India’s auction of explored coal blocks may take place in December or the beginning of 2014, according to Coal Secretary S.K. Srivastava.
The Economic Times reported that India’s auction of explored coal blocks may take place in December or the beginning of 2014, according to Coal Secretary S.K. Srivastava.
As quoted in the market news:
[Srivastava] further said that a pilot project was being undertaken by the government to draft the modalities of bidding documents for selection of mine developers and operator (MDO) for certain mines of the PSU firm.
Coal India Ltd (CIL) has already allocated one block for the pilot, he added.
MDO is a concept wherein a coal block owner contracts entire operations to a third party that takes responsibility of land acquisition, resettlement and rehabilitation, mining, developing and operating the mine by investing in it.