The Group of Minister (GoM) unanimously recommended that coal miners should share 26% profit with locals. It also suggested that there should be 100% royalty sharing with locals for non-coal miners.
The draft Mines & Minerals Development and Regulation (MMDR) Bill has been approved by the GoM and will be taken up by cabinet in three weeks. Analysts say that Coal India will be the worst affected company with this draft Mining Bill.
Partha Bhattacharya, ex-chairman of Coal India, in an interview with CNBC-TV18
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