Speaking at the agreement signing ceremony for commercial coal mining and launch of single-window clearance system, he said commercial coal mining has been made a part of the system now

Stock of Jindal Steel & Power opened higher at Rs 270.90 against its previous close of Rs 266.05 today. The stock gained over 2.54% to hit the day's high of Rs 272.80 on BSE

Against all odds, including the slump in coal demand, the government opened up the country's mining sector for private players by auctioning 19 blocks

The auction of blocks for commercial mining has opened India's coal sector to private players

The government is looking into the feedback it has received on the proposed reforms and stressed that the Centre wishes to auction at least 500 mineral blocks in the coming two to three years, Pralhad Joshi said

Adani Enterprises made a final offer of 20.75 per cent revenue sharing for Gondulpara coal mine which has a geological reserves of 176.33 million tonnes

The revision in the list includes addition of three blocks Dolesara, Jarekela and Jharpalam-Tangarghat (in Chhattisgarh) and withdrawal of five blocks -- Morga South, Fatehpur, Madanpur (North), Morga-II and Sayang

The unions, including RSS-affiliated Bharatiya Mazdoor Sangh (BMS), of Coal India have also decided to go for a day's strike on August 18, the last date for submitting bids for the auctioning of 41 blocks

Prime Minister Narendra Modi today announced the launch of the auction process for 41 coal mines for commercial mining. Addressing the nation at the launch, PM Modi termed it as a step in the right direction to make India self-reliant (Atma Nirbhar) in energy. Making a pitch to revive the coal sector, he added that the move would open the sector to private players and reduce its dependence on imports. Watch the video for more.Also Read: Coal India share price rises 8% after PM Modi launches auction process for commercial mining

Union minister Pralhad Joshi said the Coal India Ltd (CIL) has been given the specific target of one billion tonnes of production by 2023-24 and for that 60 new coal blocks have been allotted to it

\"It (WCL) will have Rs 5,300 crore capital investment. I would request that it should look into inducting more local people even if norms are to be relaxed as there has been several disputed matters due to small issues,\" the minister said

The government said it would offer 50 coal blocks for auction immediately with no eligibility conditions except for an upfront payment which will have a ceiling amount

For the first time, successful bidders will be allowed to sell 25% of coal produced in local market.

The auctions, to be aimed at paring back the nation's coal imports, are intended to attract global miners such as Glencore PLC, BHP Group, Anglo American PLC and Peabody Energy Corp

In a meeting with top state government officials, JSPL Chairman Naveen Jindal emphasised the need to give preference in iron ore auction to companies which have already invested in Odisha