+
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
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?