India has set in motion the biggest ever auction of coal mines in the country despite the fossil fuel’s key role in contributing to global warming.
The country will put 67 mines on the block, the most in a single auction. Winners will be allowed to produce and sell the fuel, a reform meant to dislodge state monopoly over the domestic coal market and open it up to private firms. The deadline for submitting technical bids is May 27 and electronic auctions have been scheduled from June 28 to July 28, the coal ministry said on Thursday.
