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Kolkata. Nov. 1 The Centre is planning to take the auction route to award the captive coal blocks to private sector.

This will end the existing process of selecting captive users without any specific financial commitment by the Union Ministry of Coal.

“The Bill for amendment of the Mines and Minerals (Development and Regulation) Act of 1957 will be placed in Parliament in the winter session. The amendment will allow the government to auction coal blocks for captive mining,” the Union Coal Minister, Mr Sriprakash Jaiswal, said here on Sunday. He was talking to reporters on the sidelines of a National Seminar on Coal, organised by CII.

Following the proposed amendment, 78 unexplored coal blocks currently held by Coal India Ltd will be auctioned for captive mining by private players.

More Stories on : Coal | Coal

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