Coal news and updates

PMO asks Coal Ministry to speed up 3rd round of mines auction

Amid delays, the Prime Minister's Office (PMO) has asked the Coal Ministry to expedite the process of third round of mines auction.

The PMO's direction came at the meeting with Coal Ministry officials held yesterday under the chairmanship of Principal Secretary to Prime Minister, Nripendra Mishra, said an official source.

"During the meeting, the PMO asked the Coal Ministry to expedite the next round of mines auction," the source said.

The overall performance of the coal sector, including the status of coal production target of 1 billion tonnes by 2020, was also reviewed during the meeting.

"Besides, the status of the Coal India projects facing delays was reviewed," the source said.

The government had earlier said the third round for 16 mines would begin in the third week of April.

"The third tranche of coal block auction will commence from third week of April... Most of the clearances of the coal blocks (to be auctioned in the third lot) are there," Coal Secretary Anil Swarup had earlier said.

Of the 16 mines, 11 would be for the power sector and five for non-power, he had said.

The government recently auctioned coal blocks in two phases, which had garnered over Rs 2 lakh crore from just 29 blocks, surpassing the presumptive loss of Rs 1.86 lakh crore estimated earlier by government auditor CAG for allotment of mines without auction.

source: http://www.dnaindia.com