India’s Vedanta and Hindalco Industries were among the first private companies chosen to operate coal mines in the country without end-use restrictions, the government said.
India allocated 38 coal mines for auction to the private sector, offering financial incentives to attract investment and reduce imports.
No technical bids were received for 15 of the 38 mines.
On the first day of the auctions, final offers for five mines with an annual production capacity of 13.75 million metric tons (mt) ranged from 10.5% to 30.75%, the coal ministry said. Vedanta won the biggest mine with an annual production capacity of 6 million mt.
