India woos investors to its coal mines, but faces road blocks to developing them

BANGALORE - India is set to hold its first commercial coal mine auctions in October, and is currently accepting bids with technical specifications. In the next phase, shortlisted companies will submit financial bids.

On June 18, Prime Minister Narendra Modi announced a policy to allow foreign investors, non-mining entities and large miners to mine coal commercially, without restrictions on end-use or price. The 41 new blocks have 225 million tonnes of coal, and their commercial auction is expected to raise 330 billion rupees . The coal sites are spread across five states.

Six of Jharkhand's nine allotted coal blocks fall in areas with large indigenous populations who have special constitutional protections. Auction of mines in these areas would impinge on their rights and"lead to large scale displacement," the state government said.

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