Economy

Govt to auction 7 coal blocks for steel, cement, iron units

Siddhartha P. Saikia New Delhi | Updated on May 27, 2013 Published on May 27, 2013

In June, the Coal Ministry plans to auction seven coal blocks for steel, cement and sponge iron plants. These mines are explored, which means their potential reserves and expected cost of exploration are known.

“These blocks are relatively smaller, and would not be given to power companies,” a senior official at the Coal Ministry told Business Line.

These seven blocks have in-place reserves of around 13.62 million tonnes a year.

Also, the Government is in the last leg of allocating 14 coal mines to Central and State public sector enterprises.

“Last week, we had a detailed discussion with the Finance Ministry,” the official said.

The Coal Ministry is scrutinising 126 applications from 25 Government companies for 14 mines.

Published on May 27, 2013
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