INSUBCONTINENT EXCLUSIVE:
efforts to attract more investments into the sector.
India on Wednesday opened up coal mining to all companies, amending laws that had
restricted it mainly to power and metals firms
Unlike Coal India Ltd., new investors will have to bid for the mines.
The nation is trying to increase output as new thermal power plants
and steel mills boost demand at home even as the world is turning away from the polluting fuel
Last year, the government allowed 100 per cent foreign direct investment in coal extraction amid surging imports and falling output at Coal
mining costs unlikely to exceed 1,200 rupees ($16.8) a ton compared with 2,000 rupees in the spot market, Sankhe said.
Shares of Coal India
advanced 4.2 per cent in Mumbai at 1:05 p.m
local time, the biggest gain since September
The benchmark S-P BSE Sensex was 0.6 per cent higher.
Scrapping the end-use clause in bidding for auctions addresses a key concern of global
and power at Vedanta Ltd., said in an emailed statement
coal giant has been unable to meet growing demand despite abundant resources
The South Asian nation depends on Coal India for more than 80 per cent of its domestic production and the miner has consistently fallen
overdone as we see limited fundamental impact over three to five years as supply ramp up would be back ended and incremental supply should
