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India Set to Auction 74 Coal-Mining Licenses to Private Companies
Oct. 20, 2014 03:31PM PST
Industrial MetalsIndia’s Coal Minister announced that the country will auction 74 coal-mining licenses to private companies within the next three to four months as the fallout from cancelled mining licenses continues to stay in the news.
India’s Coal Minister announced that the country will auction 74 coal-mining licenses to private companies within the next three to four months as the fallout from cancelled mining licenses continues to stay in the news.
According to the Wall Street Journal:
The licenses will be auctioned to private-sector companies but only for captive use, meaning the coal can be only used by the companies and not sold to others.
Arun Jaitley, the country’s finance minister, said:
The issue needed to be discussed expeditiously as power, steel and cement companies were going to suffer due to nonavailability of coal mines.
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