Pralhad Joshi, Coals and Mines Minister on December 20th expressed confidence that India’s coal production will cross 1 billion tonnes in the ongoing financial year. The production target of coal is 1012.14 MT for 2023-24.
Speaking during the launch of the 9th round of commercial coal mine auction, the minister stated, "This year we are going to cross one billion tonnes production." 1196.60 million tonne is the estimated demand in the current fiscal of coal.
With a rich history & undeniable contribution to the world’s economy the mining industry is one of the industries which continually reshapes itself in the face of technological innovations, societal expectations as well as market demands. Contrary to the perspective, mining is not only about digging up rocks or extracting minerals but it is one of the complex and multifaceted sectors which consists of a wide range of professionals that include geologists, engineers, environmentalists as well as community relations specialists.
The mining sector is set for a transformative year in 2024, by integrating all these diverse forces, , with numerous trends & technologies poised to reshape it. These emerging dynamics are going to have a huge impact on the operations, profitability as well as long-term viability of mining firms. Furthermore, by staying vigilant, it will possible for the stakeholders to not only identify critical growth opportunities but it will also be helpful in mitigating risks, and useful in making informed decisions, as well as adapt their strategies. All of these will help in staying competitive in this ever-evolving market. Now, let us get right into this comprehensive article, to obtain valuable insights into the overall direction of the industry in 2024.
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