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Coal India to reopen 30 discontinued mines to private sector

Sunday, 01 Jan 2023

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Coal India Ltd (CIL) has identified 30 closed coal mines with substantial coking and non-coking coal reserves to be reopened for production.

These mines would be pursued on a revenue-sharing basis with private participation and tenders have already been floated for reviving 20 such mines. The tendering process is yet to be initiated for the remaining mines.

CIL is expecting to meet its production target of 700 MT by the end of FY23, which will help the company notch up a 12 per cent growth over the high base of FY22 and 78 MT jump in volume terms. Further, with a sustained growth rate of 10 per cent, it may touch production levels of 770 MT in FY24.

Additionally, CIL is investing around Rs 12,500 crore in 35 projects aimed at upgrading to an environment-friendly mechanised system of transportation through first-mile connectivity (FMC) projects.