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

To attract foreign players to the domestic coal sector and cut imports of fuel, India has eased mining law.

File photo of Union Minister Prahlad Joshi.

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, Mr. 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.