World’s largest coal
miner Coal India Ltd. (CIL) will offer its 20 closed/discontinued underground coal mines to the private sector to reopen and bring into production on revenue sharing model. An Investors’ Meet was organized in Mumbai to sensitize the private sector about the offer.
Addressing the investors at the event, Union Minister of Coal, Mines & Parliamentary Affairs Mr. Pralhad Joshi said that the target of Coal Ministry is to minimize the import of thermal coal and to make the country Aatma nirbhar in the sector. Showcasing the opportunities to the investors present at the session, Mr. Joshi said ‘Not long ago, people used to say the need for coal is going to reduce but we are currently witnessing surge in coal requirements’. He added ‘Extractable reserve in the closed/discontinued coal mines is around 380 million tonnes, 30-40 million tonnes of coal can be easily extracted from the mines.’ He further said ‘the continuation of mining activities will help in increasing coal supply to TPPs while creating employment opportunities for local people. Mr. Joshi further said the Coal Ministry is open to all suggestions which will assure win-win scenario for the government as well as the industry.
Speaking on the occasion, Minister of State for Coal, Mines & Railways Mr. Raosaheb Patil Danve said India has the 5th largest reserve of coal in the world. He said ‘Government’s aim is to increase domestic coal production to 1.2 billion metric tonnes by FY 23-24’. He added ‘As a fuel, coal is the biggest contributor in the energy mix’. He further said ‘the initiative will pave the way for deployment of latest mining technology, robust systems and processes’.