Govt to form new policy for project funding in coal mining
COAL & MINING

Govt to form new policy for project funding in coal mining

As coal mining projects worldwide face increasing opposition over environmental concerns, the Indian government is set to frame a new policy on project financing in coal mining to support the development of private commercial mining in the country.

After the virtual pre-bid meeting for the second tranche of coal mining auction, the government said that it would come out with a policy on project financing in coal mining, an official told the media.

The government also indicated that, in all possibility, the second phase of commercial coal mining auction would not be postponed due to the Covid-19 pandemic, but the Ministry of Coal will monitor the situation and make a decision accordingly, the official said.

A policy on this issue is being discussed in the government as financing coal mining projects is gradually becoming a challenge in the wake of growing opposition globally. Protestors claim that such dirty projects cause damage to the environment.

A nationalised bank in Australia has reportedly been unable to make a final decision on financing a major coal mining project due to such opposition.

Due to mounting pressure, global mining majors have not shown any interest in India's commercial coal block auctions. Mining of the dry fuel has been a monopoly to state-owned Coal India Ltd (Ltd).

As we have reported earlier, the government in March offered 67 coal mines for sale, launching the second tranche of commercial coal mining auction and termed it a step towards ‘Aatmanirbhar Bharat’. This is the highest number of mines on offer in a particular tranche after the commencement of the auction regime in 2014.

The blocks on offer are a mix of mines with small and large reserves, coking and non-coking mines and fully and partially explored blocks spread across six states—Jharkhand, Odisha, Madhya Pradesh, Maharashtra, Andhra Pradesh and Chhattisgarh.

Image Source


Also Read: Govt to permit sale of 50% coal from captive blocks

Also Read: Amendment in Mining Act: A step towards building self-reliant India

As coal mining projects worldwide face increasing opposition over environmental concerns, the Indian government is set to frame a new policy on project financing in coal mining to support the development of private commercial mining in the country. After the virtual pre-bid meeting for the second tranche of coal mining auction, the government said that it would come out with a policy on project financing in coal mining, an official told the media. The government also indicated that, in all possibility, the second phase of commercial coal mining auction would not be postponed due to the Covid-19 pandemic, but the Ministry of Coal will monitor the situation and make a decision accordingly, the official said. A policy on this issue is being discussed in the government as financing coal mining projects is gradually becoming a challenge in the wake of growing opposition globally. Protestors claim that such dirty projects cause damage to the environment. A nationalised bank in Australia has reportedly been unable to make a final decision on financing a major coal mining project due to such opposition. Due to mounting pressure, global mining majors have not shown any interest in India's commercial coal block auctions. Mining of the dry fuel has been a monopoly to state-owned Coal India Ltd (Ltd). As we have reported earlier, the government in March offered 67 coal mines for sale, launching the second tranche of commercial coal mining auction and termed it a step towards ‘Aatmanirbhar Bharat’. This is the highest number of mines on offer in a particular tranche after the commencement of the auction regime in 2014. The blocks on offer are a mix of mines with small and large reserves, coking and non-coking mines and fully and partially explored blocks spread across six states—Jharkhand, Odisha, Madhya Pradesh, Maharashtra, Andhra Pradesh and Chhattisgarh. Image SourceAlso Read: Govt to permit sale of 50% coal from captive blocks Also Read: Amendment in Mining Act: A step towards building self-reliant India

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?