Commercial coal mining is not going to adversely impact the production or profitability of the company. Key issues which will help improve to stay ahead of the competition include uniform quality of coal, cost efficiency in production and reliable timely delivery schedule. Introduction of higher degree of mechanised mining and increased supplies are other focus points, CIL chairman and managing director Pramod Agarwal said.
Coal India Limited (CIL) will engage mine developer cum operators (MDOs) to increase its coal output and reduce import dependency of the dry fuel in the coming years. The Maharatna coal mining behemoth in the process has identified a total of 15 greenfield projects to operate through MDO model of which 12 are open cast and 3 underground, a release by Western Coalfields Ltd (WCL), subsidiary of CIL said.
The government said it is in the process to engage a consultancy firm to draw an action plan for revival of the domestic steel sector. Besides, the sector’s stakeholders can also provide their suggestions to deal with the issues emerged in the sector post COVID-19 outbreak, Minister of State for Steel Faggan Singh Kulaste said.
Prime Minister’s plan to rollout an international grid project under the One Sun One World One Grid (OSOWOG) initiative is a path-breaking effort to position India in a leadership role in the global agenda for poverty alleviation, boosting energy access and strengthening multilateral ties, Niti Aayog CEO, Amitabh Kant said.
Prime Minister Narendra Modi launched commercial coal mining with the auctioning process for 41 blocks, that will open up the sector to private sector and foreign players. The Prime Minister said that the move will allow private companies to unlock the resource in India. He said that commercial coal mining will help states in generating more revenue and creating more employment opportunities in areas rich with coal reserves.
India is expected to save around Rs 30,000 crore annually on import bill of thermal coal on account of commercial mining of blocks, Coal Minister Pralhad Joshi said. He said the opening of the coal sector to private companies is expected to generate employment for more than three lakh people.