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The Rajya Sabha passed by a voice vote the Mines and Minerals (Development and Regulation) Amendment Bill, 2008, allowing private companies engaged in power generation, iron and steel production to acquire coal mines for captive mining.
Replying to the debate, Minister for Coal Sriprakash Jaiswal ruled out privatisation of coal mines in the country but asserted that private players would have to be involved in mining of coal if the country had to achieve ten per cent growth.
Stating that the Government wanted to bring in genuine private players who would give money through proper bidding process, he said in answer to a question raised by many members that some private companies had not started work even after years of allotment of coal mines that in such cases the Government had cancelled the permits of ten such companies.
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