Ministry of Coal to launch auction of 40 coal mines next week

The Ministry of Coal is set to launch the next round of auction process for 40 new coal mines for sale of coal on October 12.

Since the Ministry has entered into a rolling auction mechanism, the coal mines rolled over from the previous tranche will also be on offer.

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Union Minister of Coal, Mines and Parliamentary Affairs Pralhad Joshi will be the chief guest of the launch event to be held on October 12 in the Ministry," stated the official release by the Ministry of Coal.

The release further stated that the Ministry of Coal and the Government of India, under the leadership of Prime Minister Narendra Modi, are on a continuous journey to reform the coal sector and unlock value for the nation`s economy.

"The success of these auctions will help in further strengthening the vision of Aatma Nirbhar Bharat as it will help reduce India`s coal imports and ensure energy security," it said.