State-run PSUs can take up commercial mining in 16 coal mines

Coal secretary announced move that can help discover market-determined prices

GN Bureau | June 22, 2016


#PSU   #Coal   #Coal India   #Coal Ministry   #Anil Swarup  

For the first time, the coal ministry expects to discover market-determined prices for coal after it allots 16 coal mines to state government-run companies for commercial mining.

The allotments will be made by September and production is expected to start in a year or two after that, the Hindu Business Line has reported.

There will be no restriction on where the coal is sold from these mines and the prices at which it is sold, coal secretary Anil Swarup said on June 20.

“There will no restriction on pricing from our end. We hope this will lead to discovery of market-determined pricing of coal for the first time in the country. Right now Coal India is determining the price. With another entity coming in, some sort of a market will be created and price discovery will happen,” Swarup was quoted as saying. He expected the move to benefit small and medium enterprises.

Out of the 16 mines identified for commercial coal mining by state government-owned companies, eight will be given to the host state and eight will be available for public sector companies of other states. The host states for which eight mines have been reserved are Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Telangana and West Bengal.

The 16 mines have geological reserves of 2.137 billion tonnes and are expected to add an additional 40 million tonnes of annual coal production in India.

Read the report here



 

Comments

 

Other News

Charming tales of the Snakeman’s early years

Snakes, Drugs and Rock ’N’ Roll: My Early Years By Romulus Whitaker with Janaki Lenin HarperCollins, 400 pages, Rs 699

Gripping graphic narrative helps make sense of pandemics past

The Moral Contagion By Julia Hauser and Sarnath Banerjee HarperCollins, 140 pages, Rs 699 The world has lar

“Globally, there is unprecedented positivity for India”

Addressing the Viksit Bharat Viksit Uttar Pradesh program in Lucknow on Monday, prime minister Narendra Modi launched 14,000 projects across the state, worth more than Rs 10 lakh crore at the fourth groundbreaking ceremony of UP Global Investors Summit held in February 2023. The projects relate to sectors

World’s biggest bird-a-thon begins in India

During the four days from Feb 16, more than a thousand birdwatchers throughout India are coming together with the goal of documenting as many birds as possible across the country’s diverse locations. Over one lakh birdwatchers globally participate in the annual Great Backyard Bird Coun

Comments sought on Draft Guidelines for Prevention of Misleading Advt in Coaching Sector

The Central Consumer Protection Authority has sought public comments on the ‘Draft Guidelines for Prevention of Misleading Advertisement in Coaching Sector’. The draft guidelines are placed on the website of the Department of Consumer Affairs and are accessible through the link:

Electoral bond scheme unconstitutional: Supreme Court

In a landmark judgment, the Supreme Court of India has held the anonymous, unregulated and unlimited funding through electoral bonds and companies as unconstitutional. The five-judge Constitution Bench of the Supreme Court comprising chief justice DY Chandrachud and justices Sanjiv Khanna, B

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter