January 8, 2020 / 9:31 AM / 21 days ago

India's new eased mining rules to enhance foreign participation in coal sector: minister

FILE PHOTO: A worker watches as a loader unloads coal at a yard on the outskirts of Ahmedabad, India, February 12, 2016. REUTERS/Amit Dave

NEW DELHI (Reuters) - India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal minister Pralhad Joshi said on Wednesday.

India plans to float global tenders for the first time for coal mining blocks in March, Joshi said, a move that could end Coal India Ltd’s near-monopoly of the fuel.

The auctions are intended to attract global miners such as Glencore Plc, BHP Group, Anglo American PLC and Peabody Energy Corp.

Reporting by Nidhi Verma; Editing by Subhranshu Sahu

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