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India Opens Coal-Mining Market for First Time in Four Decades

  • Government to auction four coal mines in year starting April 1
  • Total of 23 mines to be sold during the year, official says
A worker seals a sack of coal at a coal wholesale market in Mumbai, India, on Thursday, May 12, 2016.
Photographer: Bloomberg/Bloomberg

India plans to allow non-state mining companies to mine and sell coal for the first time in more than four decades, federal coal secretary Susheel Kumar said.

The nation’s coal ministry will auction four mines to both state-run and private companies during the year starting April 1, Kumar told reporters in New Delhi. The winning bidders will have the freedom to sell the coal, a privilege currently limited to a handful of state-run companies.