Team News Riveting
Kolkata, January 3
State-run miner Coal India Limited (CIL) reported production of 479.05 million tonnes (MT) up in the first three quarters of the financial year 2022-23 (FY23) ended December 31 as compared to 413.63 MT produced during the same period of FY 22, representing an increase of 15.82 per cent.
Even, India’s coal production increased impressively by 16.39 per cent to 607.97 MT during Apilr-December’22 as compared to 522.34 MT produced during the same period of FY 22.
Ministry of Coal has paved the way for releasing additional coal in the market by greater utilization of mining capacities of captive coal blocks which has led to increase in production of coal by Captive and Other companies by 31.38 per cent to 81.70 MT during Apr-Dec’22 as compared to 62.19 MT produced during the corresponding period of FY 22.
The Ministry has also amended the Mineral Concession (Amendment) Rules, 1960 under MMDR (Amendment) Act, 2021 to allow lessee of captive mines to sell coal /lignite up to 50% of the total excess production after meeting the requirement of the end-use plants.
The Ministry is taking steps to augment rail connectivity infrastructure for all major mines under PM Gati Shakti to ensure faster evacuation. As a result, the total coal despatch have been to the tune of 637.51 MT during Apr-Dec’22 as compared to 594.22 MT during same period of FY 22 representing a growth of 7.28 per cent that shows steady and efficient amount of coal despatch to various sectors across the nation.
With an objective to enhance coal production capacity, Ministry of coal has put 141 new coal blocks for commercial auction and has been engaging regularly with various coal companies in the country and monitoring their production. The all-round efforts made to increase the domestic production and despatch have shown extremely good results.
