CIL should prioritise augmenting coal production
COAL & MINING

CIL should prioritise augmenting coal production

State-owned CIL's priorities should be to ramp up production of coal and scale up supplies to reduce imports, Union Minister G Kishan Reddy has said. Coal India Ltd (CIL) accounts for over 80 per cent of domestic coal output. Speaking at CIL's 50th Foundation Day on Sunday, the minister stressed upon the importance of miners' welfare and the rehabilitation of communities affected by mine closures. "Contractual workers play a significant role in Coal India's output, and I applaud the management's decision to implement Performance Linked Incentives for them, effective FY 2023-24," he was quoted as saying in a coal ministry statement. The launch of commercial coal mining has led to transparency, ease of doing business and investment opportunities, helping open the coal sector. Exuding confidence in CIL, he stated that the company has the competency and commitment to compete in the current open market scenario. While coal will remain a central component of the country's energy landscape for the coming decades, India is also heavily investing in renewable energy and addressing climate change, the coal minister explained. He commended CIL's diversification efforts, including setting up of a thermal power plant and foraying into critical mineral acquisition. "In the Viksit Bharat initiative, Coal India has a vital role to play and it needs to shoulder this responsibility," he emphasised. Coal Secretary Vikram Dev Dutt highlighted that CIL provides coal to Indian consumers at competitive rates compared to imported coal. He added that coal stocks at power plants reached 31.6 MT as on October 28, 2024, as compared to 18.8 MT a year ago. This growth of 68 per cent is largely attributed to the contribution of CIL. Coal India, he said, should recalibrate its processes, operational and cost efficiency in accordance to the changing business dynamics.

State-owned CIL's priorities should be to ramp up production of coal and scale up supplies to reduce imports, Union Minister G Kishan Reddy has said. Coal India Ltd (CIL) accounts for over 80 per cent of domestic coal output. Speaking at CIL's 50th Foundation Day on Sunday, the minister stressed upon the importance of miners' welfare and the rehabilitation of communities affected by mine closures. Contractual workers play a significant role in Coal India's output, and I applaud the management's decision to implement Performance Linked Incentives for them, effective FY 2023-24, he was quoted as saying in a coal ministry statement. The launch of commercial coal mining has led to transparency, ease of doing business and investment opportunities, helping open the coal sector. Exuding confidence in CIL, he stated that the company has the competency and commitment to compete in the current open market scenario. While coal will remain a central component of the country's energy landscape for the coming decades, India is also heavily investing in renewable energy and addressing climate change, the coal minister explained. He commended CIL's diversification efforts, including setting up of a thermal power plant and foraying into critical mineral acquisition. In the Viksit Bharat initiative, Coal India has a vital role to play and it needs to shoulder this responsibility, he emphasised. Coal Secretary Vikram Dev Dutt highlighted that CIL provides coal to Indian consumers at competitive rates compared to imported coal. He added that coal stocks at power plants reached 31.6 MT as on October 28, 2024, as compared to 18.8 MT a year ago. This growth of 68 per cent is largely attributed to the contribution of CIL. Coal India, he said, should recalibrate its processes, operational and cost efficiency in accordance to the changing business dynamics.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Hindalco Baphlimali Mine Secures ASI Certification

Hindalco Industries has announced that Utkal Alumina International Limited’s Baphlimali Bauxite Mine in Rayagada district, Odisha, has achieved Aluminium Stewardship Initiative (ASI) Performance Standard V3.1 certification.With this achievement, Baphlimali has become the first bauxite mining operation in India to secure ASI Performance Standard V3.1 certification.The certification covers planning, mining, onsite crushing and conveyor transportation of bauxite from the mine, which has an annual production capacity of 8.5 million tonnes. The mine supplies bauxite to Utkal Alumina’s refinery ..

Next Story
Infrastructure Urban

Hindustan Zinc Builds Young Leadership Pipeline

Hindustan Zinc is strengthening its next-generation leadership pipeline, with 10% of the company’s leaders now under the age of 35.The company said more than 62% of its workforce is under 35, while its gender diversity ratio stands at 26.3%. Young professionals are taking on roles across mining, manufacturing, technology, sustainability and business leadership.Over the past two fiscal years, Hindustan Zinc has hired nearly 700 young professionals. This includes 335 campus recruits in FY26 through its VLDP, GET, PGET and MT programmes from leading institutions across India.Amarendu Prakash, C..

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to International Markets

Vedanta Aluminium Metal Limited has expanded its flagship digital e-commerce platform, Vedanta Metal Bazaar (VMB), to international markets, enabling overseas customers to order and buy aluminium products online.The platform will now serve customers across Asia, Europe, Africa and the Americas. International buyers will gain access to more than 1,000 aluminium product variants along with simplified price booking, live LME-linked hedging and digital transaction management.Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 38,000 crore, in FY26 and fulfilled more t..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement