Thursday, May 16, 2013

Co's with captive Coal Mines may be allowed to produce & sell surplus

In yet another initiative to step up domestic coal output without impinging on the Coal Mines (Nationalization) Act that bars commercial coal mining by private players, the government intends to encourage companies with captive coal mines to produce surplus. What is being considered is a commercial arrangement that would entail use of the e-auction platform, which normally fetches higher profits and where the gains will be shared between the public sector (Coal India or CIL and state mineral development corporations) and the private firms operating captive coal mines.


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