Indian government to resume auction of coal

The Indian Government announced recently that the auction of coal blocks would resume soon where 10 mines with an annual production of 13.14 million tons would be put up for auction to cement, steel and aluminium companies along with captive power plants.

The auction conducted by the Ministry of Coal would offer linkages to Coal India's production for a span of five years.

Coal India share prices rose more than 4.5% to INR 405 on the Bombay Stock Exchange (BSE) after it was declared that the company's production in May had risen by around 13% compared to the same period last year.

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