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As the government passes new tender guidance to boost fossil fuel supply for more than three-quarters of the country's electricity capacity, India will allow private and foreign companies to bid for coal mines
without any end-use or price restrictions.
Indian Coal Minister Piyush Goyal recently revealed that the Cabinet Committee on Economic Affairs of India has approved the commercialization of domestic and international companies "using new, safe and innovative technologies
".
All revenues generated by the tender will be given to the states and states
.
Anil Agarwal, chairman of metals mining giant Vedanta Ltd.
, said, "Following the implementation of the new policy, large global mining companies are expected to participate in the Indian coal industry, including BHP Billiton, Rio Tinto, Glencore, Anglo American and others
.
”
Until now, private aluminum and power producers have been allowed to bid for coal mines
.
However, the new guidance does not contain such restrictions
.
As the world's largest coal importers continue to increase their electricity production, the opening of coal markets will eventually become a reality
.
Moreover, domestic coal production has not kept pace with demand
.
Piyush Goyal said the mine auction would be conducted in a transparent manner, but did not list the number
available for bidding.
Partha Bhattacharya, former chairman of Coal India, said, "The terms and conditions of commercial mining will determine whether international bidders will participate in the bidding process
.
The supplied coal block size will have to exceed 40-50 million tons to make commercial mining possible
.
”
The government recently allocated 11 coal mines to Coal India to reduce imports
.
As the government passes new tender guidance to boost fossil fuel supply for more than three-quarters of the country's electricity capacity, India will allow private and foreign companies to bid for coal mines
without any end-use or price restrictions.
Indian Coal Minister Piyush Goyal recently revealed that the Cabinet Committee on Economic Affairs of India has approved the commercialization of domestic and international companies "using new, safe and innovative technologies
".
All revenues generated by the tender will be given to the states and states
.
Anil Agarwal, chairman of metals mining giant Vedanta Ltd.
, said, "Following the implementation of the new policy, large global mining companies are expected to participate in the Indian coal industry, including BHP Billiton, Rio Tinto, Glencore, Anglo American and others
.
”
Until now, private aluminum and power producers have been allowed to bid for coal mines
.
However, the new guidance does not contain such restrictions
.
As the world's largest coal importers continue to increase their electricity production, the opening of coal markets will eventually become a reality
.
Moreover, domestic coal production has not kept pace with demand
.
Piyush Goyal said the mine auction would be conducted in a transparent manner, but did not list the number
available for bidding.
Partha Bhattacharya, former chairman of Coal India, said, "The terms and conditions of commercial mining will determine whether international bidders will participate in the bidding process
.
The supplied coal block size will have to exceed 40-50 million tons to make commercial mining possible
.
”
The government recently allocated 11 coal mines to Coal India to reduce imports
.
