India Proposes Auctions for Coal India

Mining Weekly reported that the Indian government has proposed that Coal India Ltd. (NSE:COALINDIA) use auctions to contract long-term supply linkages with end users.

As quoted in the market news:

After setting the ball rolling for auctioning of coal blocks and mineral assets to user industries, the Indian government has now established a committee, which included the CIL chairperson, to explore the viability of adopting auctions as a process for the coal miner to ensure supplies to bulk consumers in the power, cement and steel sectors, an official said.

Click here for the full Mining Weekly report