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All Efforts on to Stop Coal Import by 2025-26; Focus on Producing 100 Million Tonne from Underground Mines by 2030: Union Minister Pralhad Joshi

in Business, National November 15, 2023 Comments Off on All Efforts on to Stop Coal Import by 2025-26; Focus on Producing 100 Million Tonne from Underground Mines by 2030: Union Minister Pralhad Joshi 465 Views

Newdelhi:15/11/2 3:The Ministry of Coal launched the eighth round of commercial coal mines auction process, here today. A total of 39 coal mines are on offer. Launching the auction virtually, Union Minster for Coal, Mines, and Parliamentary Affairs Shri Pralhad Joshi said that all efforts are on to stop coal import by 2025-26. He also stated that coal production from underground mines (UG) will be further scaled up to touch 100 million tonnes (MT) by 2030 by deploying mass production technology.

The mines being auctioned are spread across the coal-bearing States of Jharkhand, Odisha, Maharashtra, West Bengal, and Bihar. These mines come under CMSP Act and MMDR Act. Out of 39 coal mines, four mines are being offered under 2nd attempt of 7th round under CMSP/ MMDR Act, where a single bid were received in the first attempt. Of the 35 coal mines being offered under 8th round, 16 coal mines are new ones and 19 mines are being rolled over from earlier tranches.

The Ministry of Coal has taken a series of reforms to ensure that the coal sector grows at a rapid pace and is able to meet the growing energy demand of the country. For 8th round, mines falling under protected areas, wildlife sanctuaries, critical habitats, having forest cover greater than 40%, heavily built-up areas, etc. have been excluded. The block boundaries of some of the coal mines where there was presence of dense habitation, high green cover critical infrastructure, etc. have been modified for the early development of coal mines. Addressing the function Secretary, Ministry of Coal Shri Amrit Lal Meena said that captive/commercial coal mines are contributing significantly to overall production. He said that systematic surveys had been carried out before offering 39 mines for auction. For speedy evacuation of coal from mines, rail connectivity is being augmented and further added, Shri Meena said.

Earlier, welcoming the guests and potential bidders, Additional Secretary and Nominated Authority of the Ministry, Shri M Nagaraju emphasized the need for further enhancing domestic coal production. He highlighted that a series of reforms have been initiated by the Ministry recently.  Domestic coal demand will be increasing in the coming decades too. Therefore, investment in coal sector offers good returns, he added.

The commencement of sale of tender documents for auction shall start from today i.e., November 15, 2023. Details of the mines, auction terms, timelines, etc. can be accessed on MSTC auction platform. The auction shall be held online through a transparent two-stage process on the basis of percentage revenue share.

SBI Capital Markets Limited, the sole Transaction Advisor to Ministry of Coal for the commercial coal mine auctions is assisting the Ministry in conducting the auction process.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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