India's 10th Round Coal Mine Auctions Boost Energy Security

By siliconindia  |  Friday, 21 June 2024, 06:03:35 PM IST

India's 10th Round Coal Mine Auctions Boost Energy Security
Union Minister for Coal and Mines, G Kishan Reddy, launched the 10th round of commercial coal mine auctions, aiming to bolster domestic coal production and fortify India's energy security. The auction, featuring 60 mines across various states, underscores the government's commitment to accelerating economic growth and generating substantial employment opportunities.
The event, held in Hyderabad, highlighted the auction's focus on both coking and non-coking coal mines situated in Bihar (3), Chhattisgarh (15), Jharkhand (6), Madhya Pradesh (15), Maharashtra (1), Odisha (16), Telangana (1), and West Bengal (3). Minister of State for Coal and Mines, Satish Chandra Dubey, Deputy Chief Minister of Telangana, Mallu Bhatti Vikramarka, and Secretary of the Ministry of Coal, Amrit Lal Meena, were among the dignitaries present.
In his address, Kishan Reddy emphasized that the auction represents a pivotal step towards enhancing energy security and supporting economic development through robust coal production. He underscored the role of coal in fostering job creation and economic resilience, noting that the auction process would promote transparency, competitiveness, and sustainability within the coal sector.
To streamline the auction process and facilitate coal production, the Ministry of Coal has established a Single Window Clearance System (SWCS) portal. This initiative aims to expedite clearances for coal mines and promote efficiency through a unified platform.
"The opening of these blocks for transparent and competitive bidding demonstrates our commitment to harnessing India's vast coal reserves to drive economic growth and ensure energy security", Kishan Reddy affirmed.
Reflecting on the success of previous auctions, he highlighted that 107 coal mines had been auctioned in nine rounds, attracting investments totaling 38,400 crore. These auctions are expected to generate direct and indirect employment opportunities for approximately three lakh individuals.
Kishan Reddy further emphasized the crucial role of coal in achieving India's economic ambitions, including the goal of becoming a $5 trillion economy as envisioned by Prime Minister Narendra Modi. He described the coal sector as a cornerstone of India's self-reliance strategy (Atmanirbhar Bharat), aligning with the government's vision to position India as a global economic powerhouse.
The minister recalled the inaugural round of auctions in 2022 as a historic milestone for India's coal mining industry. "This historic step was aimed at enhancing domestic coal production, achieving self-reliance in the coal sector, and meeting the nation's growing energy demands", he remarked.
Regarding current production figures, Kishan Reddy highlighted that India produced 997.23 million tonnes of coal in the fiscal year 2023-24, with a target set to achieve one billion tonnes by 2024-25. Notably, 180.38 million tonnes have already been produced in the current fiscal year.
Looking ahead, the Ministry of Coal is pursuing several initiatives to expand coal utilization, including coal gasification with a target of 100 million tonnes by 2030. Additionally, the Coking Coal Mission aims to enhance production to 140 million tonnes of coking coal by 2029-30.

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