10th round of commercial coal mine auction launched

 

by IANS | Fri, Jun 21, 2024, 03:53 PM

Hyderabad, June 21 (IANS) Union Minister for Coal and Mines, G Kishan Reddy, on Friday launched the 10th round of commercial coal mine auction, putting 60 mines for sale.


At an event held in Hyderabad, the minister launched the auction aimed at enhancing domestic coal production and ensuring energy security for India.


The mines put up for auction include both coking and non-coking coal mines.


They are situated in Bihar (3), Chhattisgarh (15), Jharkhand (6), Madhya Pradesh (15), Maharashtra (1), Odisha (16), Telangana (1), and West Bengal (3).


Minister of State for Coal and Mines, Satish Chandra Dubey, Deputy Chief Minister of Telangana, Mallu Bhatti Vikramarka and Secretary, Ministry of Coal Amrit Lal Meena were present.


Speaking on the occasion, Kishan Reddy said this was another major step to enhance energy security, boosting economic growth and create numerous job opportunities.


The latest round is poised to foster transparency, competitiveness and sustainability within the coal sector.


The ministry has created a Single Window Clearance System (SWCS) portal to streamline obtaining clearances for coal mines and boost coal production through a single gateway, supporting progress and resilience in the sector.


"By opening up more blocks for transparent and competitive bidding, the government is unlocking India's vast coal reserves to drive economic growth and energy security," he said.


He said during the nine rounds conducted so far, 107 coal mines were successfully auctioned, bringing an investment of Rs.38,400 crore.


This will open direct and indirect employment opportunities for three lakh people.


Kishan Reddy said coal has an important role in making India a $5 trillion economy, the target set by the government.


“The vibrant and reform-oriented coal sector is the key to achieving the goals of Atmanirbhar Bharat in line with Prime Minister Narendra Modi’s vision to make India a global powerhouse,” he said.


He recalled that the first round of auction was launched in 2022 and called it a historic step in India’s coal mining industry.


“This historic step was rooted in the vision of enhancing domestic production of coal, making the country Atmanirbhar in coal sector and also address the country’s growing energy needs,” he said.


He mentioned that coal production in India was 997.23 million tonnes in 2023-24 while the target for 2024-25 is one billion tonnes. Production of 180.38 million tonnes has already been achieved.


The ministry is also expecting production of 175 million tonnes from captive commercial mines.


He said the ministry was taking several initiatives such as coal gasification. It has set a goal of 100 million tonnes of coal gasification by 2030.


Coking coal mission was launched to achieve the goal of production 140 million tonnes of coking coal in 2029-30.

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