Kolkata, Nov 8 (IANS) The proposal for commercial coal mining is expected to be cleared by the Union Cabinet this month and the auction of coal blocks is likely to commence by the end of this fiscal, an official said on Wednesday.
“The decision will be taken this month by the Cabinet. Thereafter, of course, the process will begin. It is likely to take time. I hope it should happen in this financial year,” Coal Secretary Susheel Kumar said when asked about auction of coal blocks for commercial mining, on the sidelines of the 7th Asian Mining Congress.
As for the mines likely to be put up for auction for commercial mining, he said: “Let the Cabinet decide and we will come out with the names (of the mines).”
To prepare the modalities for allocation of coal mines through auction for sale of coal by private companies, a discussion paper containing proposed eligibility conditions and methodology has been prepared so as to consult stakeholders.
The discussion paper has been placed in the public domain for comments.
The enabling provisions have been made in the Coal Mines (Special Provisions) Act, 2015, for allocation of coal mines through auction and sale of coal.
Post Source: Ians feed