COAL & MINES

Commercial mining in India could be limited in the longer term by a move towards clean energy: Care Ratings

Opening up of the coal sector for commercial coal mining is expected to encourage private players to participate in the auctions, however, it could be limited in the longer term by the move towards clean energy which can evoke constrained interest by new players, said Care Ratings.

The union cabinet on 8 January 2020, opened up coal sector for commercial coal mining to firms other than those in the steel and power sectors and removed end-use restrictions on the fuel. The ordinance allows any India-registered company to bid and develop coal blocks.

This was done by approving the promulgation of Minerals Law (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act) and Coal Mines (Special Provisions) Act, 2015 and Mines and Minerals Development Act, 1957 (CMSP Act).

Source
The Economic Times
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