NTPC will transfer its mines to recently established subsidiary
COAL & MINING

NTPC will transfer its mines to recently established subsidiary

The largest energy corporation in the nation, National Thermal Power Corporation (NTPC), has made the decision to transfer its coal mines and mining operations to its recently formed, wholly-owned subsidiary NTPC Mining Limited (NML). According to NTPC officials, the asset transfer procedure has begun following approval from the Union coal ministry. The NML's incorporation is a step towards including a number of other important minerals in the mining pot. Currently, NML has a contract for uranium exploration and mining with the Uranium Corporation of India Limited (UCIL), and it may add new minerals to the mix soon.

Partha Mazumder, the regional executive director for coal mining, stated that the asset transfer is taking place at a time when coal mines have seen a significant increase in coal production. When compared to the production reached in April 2022, NTPC Ltd., the nation's top integrated energy producer, produced significantly more coal from its four active captive mines in April 2023. According to him, the company produced 2.75 MT of coal in April, a significant increase from the 1.11 MT produced in April 2022. Of the four captive mines, Talaipalli is in Chhatisgarh, Dulanga is in Odisha, and Chatti Bariatu and Punkree Burwadih are in Jharkhand.

NTPC also dispatched 2.95 MT of coal in April 2023, a 140% increase over the previous month. This was an all-time high for the company. NML now owns seven coal mines, five of which are located in Jharkhand. While Punkree Burwadih was already producing coal, Chatti Bariatu mine began to produce it. As they are in various phases of clearing and exploration, two other mines, Kerendari and Badam in Hazaribag and Banardih in Latehar would begin production in the near future.

The Union electricity ministry has set NTPC a 34 MT goal for the current fiscal year. The huge increase in coal production, according to Mazundar, is attributable to the NTPC coal mining teams' implementation of digital initiatives, which have elevated operational excellence and enhanced safety in mining operations. Key digital initiatives include a digitised safety management plan called e-SMP; a mobile app for safety, Sachetan; people and machinery tracking system; and integrated coal management system.

The largest energy corporation in the nation, National Thermal Power Corporation (NTPC), has made the decision to transfer its coal mines and mining operations to its recently formed, wholly-owned subsidiary NTPC Mining Limited (NML). According to NTPC officials, the asset transfer procedure has begun following approval from the Union coal ministry. The NML's incorporation is a step towards including a number of other important minerals in the mining pot. Currently, NML has a contract for uranium exploration and mining with the Uranium Corporation of India Limited (UCIL), and it may add new minerals to the mix soon. Partha Mazumder, the regional executive director for coal mining, stated that the asset transfer is taking place at a time when coal mines have seen a significant increase in coal production. When compared to the production reached in April 2022, NTPC Ltd., the nation's top integrated energy producer, produced significantly more coal from its four active captive mines in April 2023. According to him, the company produced 2.75 MT of coal in April, a significant increase from the 1.11 MT produced in April 2022. Of the four captive mines, Talaipalli is in Chhatisgarh, Dulanga is in Odisha, and Chatti Bariatu and Punkree Burwadih are in Jharkhand. NTPC also dispatched 2.95 MT of coal in April 2023, a 140% increase over the previous month. This was an all-time high for the company. NML now owns seven coal mines, five of which are located in Jharkhand. While Punkree Burwadih was already producing coal, Chatti Bariatu mine began to produce it. As they are in various phases of clearing and exploration, two other mines, Kerendari and Badam in Hazaribag and Banardih in Latehar would begin production in the near future. The Union electricity ministry has set NTPC a 34 MT goal for the current fiscal year. The huge increase in coal production, according to Mazundar, is attributable to the NTPC coal mining teams' implementation of digital initiatives, which have elevated operational excellence and enhanced safety in mining operations. Key digital initiatives include a digitised safety management plan called e-SMP; a mobile app for safety, Sachetan; people and machinery tracking system; and integrated coal management system.

Next Story
Real Estate

Signature Global to Invest Rs.25 Bn in FY25 Housing Projects

Real estate developer Signature Global is set to invest ?25 billion in residential projects for the fiscal year 2024-25. Chairman and Managing Director Pradeep Aggarwal announced this substantial investment, highlighting the company's commitment to expanding its housing portfolio. The funds will be allocated to developing new residential properties, aiming to cater to the increasing demand for affordable housing. Aggarwal stated that the investment will primarily focus on projects in the Delhi-NCR region, a market where the company has established a strong presence. Signature Global plans to l..

Next Story
Infrastructure Urban

Congress Criticises Modi's Policies, Calls MSME Situation Dire

The Congress party has sharply criticised Prime Minister Narendra Modi's policies, accusing them of severely damaging India's Micro, Small, and Medium Enterprises (MSMEs). In a recent statement, Congress spokesperson Gourav Vallabh described the government's actions as a "systematic bludgeoning" of the MSME sector, leading to what he termed an economic catastrophe. Vallabh highlighted several key areas where he believes the government has failed. He pointed to the implementation of the Goods and Services Tax (GST) and demonetization as two major policy missteps that have had long-lasting nega..

Next Story
Infrastructure Urban

Urgo Capital Opens Indore Branch to Support MSMEs

Urgo Capital, a leading financial services provider, has inaugurated a new branch office in Indore, Madhya Pradesh, to bolster its support for Micro, Small, and Medium Enterprises (MSMEs) in the region. This strategic expansion aims to provide enhanced financial solutions and support to the MSME sector, which is crucial for economic growth and employment generation. The new branch will offer a range of financial products tailored to the needs of MSMEs, including business loans, working capital loans, and equipment financing. Urgo Capital's Managing Director, Rajesh Sharma, emphasised the comp..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000

Join us Telegram