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Vedanta and Hindalco win first mine auction in India

Nov 2, 2020

Source: https://www.mining.com/vedanta-and-hindalco-win-first-mine-auction-in-india/

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India nationalized its coal industry in 1973 and created Coal India Ltd. in 1975. (Image: Coal mine in Jharkhand. Source: TripodStories- AB | Wikimedia Commons.)

Vedanta and Hindalco Industries were among the first private companies chosen to operate coal mines in India without end-use restrictions, the government said on Monday.

In mid-June 2020, Prime Minister Narendra Modi India announced that his administration was ending a four-decade state monopoly on the mining and selling of coal by auctioning 41 mines across the country to private companies.

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India nationalized its coal industry in 1973 and created Coal India Ltd. in 1975. (Image: Coal mine in Jharkhand. Source: TripodStories- AB | Wikimedia Commons.)

Vedanta and Hindalco Industries were among the first private companies chosen to operate coal mines in India without end-use restrictions, the government said on Monday.

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