The auction is being launched at a time when scarcity of coal has led to electricity supply shortages across the country.

Centre launches public sale course of for 40 new coal mines

The Coal Ministry has launched the public sale course of for 40 new coal mines by which 21 new mines are underneath the Coal Mines (Particular Provisions) Act 2015 and 19 are underneath the Tranche three of Mines and Minerals (Growth and Regulation) Act 1957.

The public sale is being launched at a time when shortage of coal has led to electrical energy provide shortages throughout the nation.

Issuing an official assertion, the coal ministry mentioned that the step has been taken following the profitable public sale of 28 coal mines within the first two tranches and there shall be a complete of 88 coal mines on supply at current.

“Whole geological sources of about 55 billion tonnes of coal are on supply from these 88 mines, of which 57 are absolutely explored mines and 31 are partially explored mines. There are 4 coking coal mines on supply,” the federal government’s assertion learn.

The federal government had earlier mentioned that this can be a steady journey to reform the coal sector and unlock worth for the nation’s economic system.

Addressing an occasion, Union Minister of Coal, Mines and Parliamentary Affairs, Pralhad Joshi careworn that the Ministry of Coal and the Authorities of India are on a steady journey to reform the coal sector and unlock values for the nation’s economic system underneath the management of Prime Minister Narendra Modi.

Joshi additional threw gentle on the vitality consumption sample of the nation and the way the demand for energy has elevated by round 20 per cent in comparison with pre-Covid instances.

“India is at the moment one of many lowest by way of per capita consumption of energy as in comparison with the developed international locations and that the ability demand of the nation is predicted to be doubled by the yr 2040 owing to the foremost steps taken by the Authorities in connecting the remotest of the locations with energy and reiterated that the coal will proceed to play a serious half within the vitality mixture of the nation for subsequent 35-40 years,” he mentioned.

Joshi additionally introduced that the rebate of 20 per cent on the ultimate supply on sale or consumption of coal for coal gasification or liquefaction, could also be elevated.

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