India's coal output is expected to hit 1080 million tonnes in the 2024-25 period. The rising plans for power generation capacity and the growing demand for electricity, along with the swift expansion of industrial and infrastructural projects, are anticipated to be key factors influencing the coal market in India.
The nation will continue focusing on coal based power, union coal and mines minister G Kishan Reddy said Thursday. Speaking at an event to launch the 11th round of commercial coal mine auctions, Reddy said, "Power is not possible without coal, and life is not possible without power."
Reddy states that some nations are experiencing power shortages that hinder their development, but India is not included among them.
Reddy said efforts must be taken to lower coal imports for both power and steel projects. "Imported coal based steel and power projects must look for opportunities to switch to using domestic coal," he said.
An official announcement indicated that 27 coal mines are available in this round. Out of these, 20 coal mines will be available for bidding, including 10 Fully Explored and 10 Partially Explored blocks. An additional seven coal mines are being offered from the second attempt of round 10.
The statement added that these mines are expected to produce yearly revenue of around Rs 1,446 crores when operating at peak-rated capacity.
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