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India Promulgates Ordinance for Amendment in Laws to Ease Auction of Coal Mines

Coal News - Published on Mon, 13 Jan 2020

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The Indian government announced promulgation of the ordinance for amendment in the Mines and Minerals (Development and Regulation) (MMDR) Act, 1957 and the Coal Mines (Special Provisions) Act, 2015, aimed at opening up the coal sector completely for commercial mining for local as well as global firms. The Union Cabinet had earlier approved the amendments intending to open up new areas of growth in the coal and mining sector. The amendments in the acts would enhance the ease of doing business, democratisation of coal mining sector by opening it up to anyone willing to invest.

The move will also offer unexplored and partially explored coal blocks for mining through prospecting license-cum-mining Lease, promote foreign direct investment in the coal mining sector by removing the restriction and eligibility criteria for participation. It will also allow successful bidder and allottee to utilise mined coal in any of the plant of its subsidiary or holding company and attract large investment in coal mining sector

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Posted By : Rabi Wangkhem on Mon, 13 Jan 2020
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