Friday, 19 June 2020

INDIAN PM ANNOUNCES NEW COAL BOOM

Unleashing Coal: PM Modi Announces India's New Coal Boom
IANS News Service, 18 June 2020

New Delhi, June 18 (IANS) In a big reform initiative aimed at attracting global investment in the mining sector, the government on Thursday started auction of coal mines for commercial extraction by the private sector.

In all 41 mines with total geological coal reserve of 17 billion tonne is on offer under the first phase of commercial coal mine auctions. These include both large and small mines with peak rated capacities (PRC) ranging from 0.5 to 40 million tonne per annum (mtpa) of coal. The cumulative PRC of all mines is 225 mtpa.

The mines on offer are largely fully explored ones meaning that it could be brought to production immediately. 

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