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Friday, July 10, 2020

CIL: No plan to give up any blocks for commercial mining

Prime Minister Narendra Modi had announced the first auction of coal blocks for commercial use last week. Earlier, only end-users of coal such as power and steel companies were permitted to bid for coal blocks.

By: ENS Economic Bureau | New Delhi | Published: June 26, 2020 12:50:45 am
Coal india limited, coal blocks auction, commercial mining, commercial coal mining, commercial mining licence, Indian express A CIL release said its expertise in exploration, mine planning, infrastructure engineering, and environmental management gave it an edge over potential competitors. (File Photo)

Coal India Ltd (CIL) has no plans to give up any coal blocks for commercial mining, CIL Chairman Pramod Agrawal said on Thursday, noting that the PSU would continue to be viable in the competitive era of coal mining. The Centre had announced the commercialisation of coal as part of the Atmanirbhar Bharat plan. Prime Minister Narendra Modi had announced the first auction of coal blocks for commercial use last week. Earlier, only end-users of coal such as power and steel companies were permitted to bid for coal blocks.

“There is no proposal to give away any CIL block for commercial mining, so there is no cause for concern,” said Agrawal, adding the company had sufficient blocks with abundant resource capacity to continue as a commercially viable entity in the “competition era.” CIL is the holder of 463 coal blocks with a combined estimated mining capacity of close to 170 billion tonnes. “… taking into account the projected growth in the ensuing years, CIL will be able to produce and fuel the expanding coal demand of the country to a considerable extent in the foreseeable future,” said a release by the PSU, adding that it has targeted annual production of 1 billion tonnes of coal by 2023-24.

A CIL release said its expertise in exploration, mine planning, infrastructure engineering, and environmental management gave it an edge over potential competitors.

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