Coal Ministry Action Plan 2023 -24 Targets 1012 MT Coal Production

The Ministry of Coal has conceptualized an Action Plan for the FY 2023-24 with the goal of achieving Aatmanirbhar Bharat by enhancing the production, efficiency, sustainability, new technologies etc. in the coal sector. It is an ambitious, well-crafted roadmap that covers a variety of areas stated below -1. Coal Analytics:Coal Production - The Ministry has finalized the total coal production target of 1012 MT for FY 2023-24.Outsourcing of Mines- The Ministry has taken various steps to increase coal production and efficiency like Mining Developers cum Operators (MDO) for the operationalization of CIL Mines/Blocks and production in discontinued/abandoned mines on the revenue sharing basis.Coking Coal Strategy – With a focus on Aatmanirbhar Bharat, the Ministry of Coal has formulated a coking coal strategy to enhance coking coal availability in the country to reduce imports.Quality of Coal - The Ministry of Coal and the coal companies have taken various measures to achieve the objective of supply of quality coal to all consumers.For undertaking the job of sampling and analysis of coal samples at loading end, third party sampling agencies have been empanelled for both power and non-power coal consumers.2. Private Investment:CAPEX and Asset Monetization - The CAPEX target for FY 2023-24 is Rs 21030 Crores (CIL: Rs.16,500 Cr, NLCIL: Rs. 2,880 Cr and SCCL: Rs. 1650 Cr) The overall projected target of Assets Monetization plan for FY 2023-24 is Rs. 50,118.61 CroresCommercial Mining - During FY 2022-23, the Ministry signed agreements for a total of 23 coal mines having cumulative PRC of 33.224 MTPA and these mines are expected to generate an annual revenue of Rs 4,700.80 Crores calculated at PRC (Peak Rated Capacity). These Mines are expected to provide both direct and indirect employment to 44,906 people.Considering good response received for 6th round of commercial auctions, it is expected that 25 coal mines will be allocated during FY 2023-24 for commercial mining.3. Infrastructure ProjectsPM Gatishakti National Master Plan – In consultation with Ministry of Railways, Ministry of Coal is closely monitoring the new railway line projects that are critical for coal evacuation and is undertaking Mapping of Coal Sector on NMP and use of Dashboards on NMP.Coal Evacuation- FMC & Railway Lines – Ministry of Coal has adopted a Coal Logistics Policy/Plan for effective and environmental friendly transport of coal, as logistics is a crucial component of the coal supply chain.4. Safety in MinesThe Ministry of Coal reaffirms its commitment to the best safety standards and utmost priority to the safety in Coal Mines including disaster management, safety management & response drills, use of PPE etc.The 48th meeting of Standing Committee on Safety in Coal Mines was held in New Delhi on 12th Dec 2022.Scientific closure of Mines – To restore the ecological balance in the mined-out areas, mine closure activities will begin this year at a significant number of CIL and SCCL mines as per the guidelines issued by Ministry of Coal in October, 2022 (Scientific Closure of Closed/Abandoned/Discontinued Mines before Year 2009)5. Technology Push to Coal:Technology roadmap in the Coal sector - Ministry is going to circulate the Monitoring framework for coal companies towards Implementation of Technology Roadmap in digitalisation & integration of sub-systems, use of new technology (Drone, Remote sensing), blast free coal mining to promote efficiency, safety and environment.Coal to Chemical – With an objective towards clean coal technology, Ministry of Coal has taken various initiatives like Coal to Hydrogen, Coal & Lignite gasification, CBM/CMM etc.Diversification of Coal India (CIL) – As part of Diversification initiatives of the Ministry, Coal India Limited is being diversified for sustainable future business operations like New Business Areas (Aluminium, Power, Solar wafer, Solar Power & Renewable), Expansion of Core business (1 BT) etc.,6. Sustainability in Coal Sector:Ministry of Coal envisages promoting sustainable development model in which coal production goes hand in hand with environmental protection, resource conservation, caring for society and measures to protect our forests and biodiversity.Greening Initiatives, Development of Eco-parks/Mine Tourism, Gainful Utilization of Mine Water/Overburden (OB) and Energy Efficient Measures are some of the major identified sustainable activities identified by Ministry of Coal.           The Ministry’s initiatives outlined in the action plan will pave the path to development and will have a positive impact on Coal’s growth trajectory along with a sustainable future. The details of the Action plan may be accessed through the website of Ministry of CoalAlso ReadSupply chain firm Iron Pillar leads Pando's $30 mn series B fundingJSW Steel to invest $145 mn to improve manufacturing processes in US