Govt to form new policy for project funding in coal mining

28 Apr 2021 CW Team

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

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..