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Indian Cabinet Approves Coal Ordinance, Auctions to Begin Tomorrow
Dec. 24, 2014 10:37AM PST
Industrial Metals Investing
The Economic Times reported that India’s cabinet has approved the re-promulgation of a coal ordinance that will allow for the reallocation of a number of coal blocks that were cancelled this year.
The Economic Times reported that India’s cabinet has approved the re-promulgation of a coal ordinance that will allow for the reallocation of a number of coal blocks that were cancelled this year.
As quoted in the publication:
The auction process, for which the guidelines were approved by the Union Cabinet today along with the ordinance, would start with 24 mines tomorrow. This will include 7 for the power sector, 16 for other end-use steel and cement plants as also captive power units, and one mine for steel.