India relaxes contract terms for ongoing coal block auctions

Close on the heels of starting the auction process for 27 coal mines, India’s Coal Ministry has announced it is relaxing auction, and subsequent contract, rules to ensure a higher number of bids. “The coal mines on offer include some mines that have remained unsold at previous auctions. Most of these mines are categorised as Schedule III mines, which means that these could be brought into production in four to five years,” a Ministry official said this week.