Centre changes track to focus on coal contracts, instead of buying mines

Earlier it was planning to buy mines; now, it will try to freeze contracts at competitive prices

The government will now prioritise getting contracts for coking coal imports at competitive prices instead of trying to buy coal mines, as it was planning earlier.

“The plan is to not acquire assets but only freeze orders in advance to get coal at competitive prices,” said Union Coal Minister Pralhad Joshi, on the sidelines of the 8th Asian Mining Congress and Exhibition. 

Coal India Chairman Anil Kumar Jha said while getting the contracts is a priority, the company will consider picking up stakes in coking coal companies instead of an outright purchase. 

Till now, Coal India has been considering whether to buy coking