3 days Ago By [email protected] (MENAFN)
( MENAFN - KNN India) New Delhi, Dec 30 (KNN) India's coal production reached a historic milestone in calendar year 2024, achieving 988.32 million tonnes (mt) compared to 918.02 mt in the previous year, marking a significant growth of 7.
66 percent, according to the coal ministry's year-end report. The Ministry anticipates exceeding the previous financial year's production of 997 mt by the end of FY25, driven by increased output from private mines and enhanced production from Coal India Limited (CIL). The sector's liberalisation has shown promising results, with captive and commercial mines contributing 162 mt between January and November 2024.
Since 2015, the government has successfully auctioned 113 coal mines with a combined peak rated capacity of 257 mt per annum, reflecting the ministry's commitment to expanding private sector participation and reducing import dependency. In pursuit of energy security and self-reliance under the Atmanirbhar Bharat initiative, the ministry has set ambitious production targets of 1.31 billion tonnes for FY25 and 1.
5 billion tonnes for FY30. However, this push towards zero imports comes amid continuing power ministry mandates requiring power plants to maintain certain import levels, despite increased domestic production. The ministry has also launched Mission Coking Coal to address the specific needs of the steel sector and reduce coking coal imports.
The initiative aims to boost domestic raw coking coal production to 140 mt by FY30, with CIL subsidiaries targeted to increase their production from 60.43 mt in 2023-24 to approximately 105 mt by FY30. As part of its comprehensive strategy, the government is preparing to implement Coal Reforms 3.
0, focusing on reducing overall coal imports and enhancing availability for industrial sectors. The reforms include innovative measures such as forward-bidding auctions for domestic coking coal through two distinct routes: one for steel units with washeries and another for those without, with washing facilities granted the additional benefit of byproduct sales rights. Supply statistics for CY 2024 (up to December 15) show robust growth, with total coal supply reaching 963.
11 mt, a 6.7 percent increase from the previous year's 904.61 mt.
The power sector received 792.958 mt, marking a 5.02 percent increase, while the non-regulated sector saw a substantial growth of 14.
48 percent, receiving 171.236 mt of coal. (KNN Bureau) MENAFN30122024000155011030ID1109042499 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind.
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