{"id":1190977,"date":"2020-06-18T09:00:00","date_gmt":"2020-06-18T14:00:00","guid":{"rendered":"https:\/\/www.mining.com\/?p=1027396"},"modified":"2020-06-18T09:00:00","modified_gmt":"2020-06-18T14:00:00","slug":"india-to-end-decades-old-state-monopoly-on-coal","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1190977","title":{"rendered":"India to end decades-old state monopoly on coal"},"content":{"rendered":"

India has taken an historic step towards ending the state monopoly on the mining and selling of coal by auctioning 41 mines in the country<\/a>, a move that allows private companies to enter the sector.<\/p>\n

The announcement<\/a>, which puts an end to more than four decades of state control over the coal industry, aims to solve a fuel shortage that threatens to choke the nation\u2019s industrial activity.<\/p>\n

The measure also seeks to boost India\u2019s economy to help the country recover from the economic toll of the coronavirus pandemic.<\/p>\n

\n
\"India<\/a><\/figure>\n<\/div>\n

The Ministry of Coal estimates the mines would generate 330 billion rupees ($4.3 billion) of capital investment over the next five to seven years, boosting the nation\u2019s output by as much as 225 million tonnes a year.<\/p>\n

The authority also expects the operations to provide thousands of jobs \u2014 about 70,000 direct positions \u2014 and earn states extra annual revenue of 200 billion rupees ($2.6bn).<\/p>\n

Technical bids, open even to companies with no mining experience, are due mid-August. After that, the government will begin auctioning the earmarked assets. Such process will require bidders to propose a portion of revenue they\u2019re willing to share with the government.<\/p>\n

Ending reliance on imports<\/strong><\/h2>\n

India is the world\u2019s third-largest producer of coal, behind China and the United States. Yet it has heavily relied on imports because of mismanagement and an onerous bureaucracy in coal exploration, production and power generation. As a result, nearly a quarter of India\u2019s 1.38 billion people have no electricity, according to the World Bank<\/a>.<\/p>\n

Prime Minister Narendra Modi described the announcement<\/a>, which has been in the making for years<\/a>, as a major step in the direction of achieving self-reliance.<\/p>\n

India, which nationalized its coal industry in 1973, says the mines that are being auctioned could potentially contribute about 15% of the country\u2019s projected total coal production in 2025-26.<\/p>\n","protected":false},"excerpt":{"rendered":"

For the first time in almost 50 years, private companies would be allowed to mine and sell coal.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1035,949,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1190977"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1190977"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1190977\/revisions"}],"predecessor-version":[{"id":1191001,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1190977\/revisions\/1191001"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1190977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1190977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1190977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}