Jain assures of approvals for mining

The Government is working to bring new investments in the coal sector by making it sector more attractive and creating opportunities for private sector participation.

Sharing this, Coal Secretary Anil Kumar Jain said, “The government is working to bring new #investments in the sector by making the sector more attractive. In this regard, we can also look in the future of provisions of dovetail of coal and bauxite mines for mining purposes.”

The coal sector is now maturing and the industry need not worry about the issues pertaining to the sector, he also told a webinar ‘Stakeholders Consultation on Auction of Coal Mines for Commercial Mining’, organised by FICCI, jointly with the Ministry of Coal, on 24 July 2020.

“The business prospects for coal are very promising and we are encouraged by the response to the auction of the commercial mine’s process,” he informed.

Jain addressed the concerns of the private sector and emphasized that the government is fully aware of the industry concerns and is now more experienced in handling the coal auctioning process.

“Coal mining is one of the sectors where the majority of the regulatory and government agencies have given their views. You (private sector) have to be rest assured that now we have set up a scrutiny committee to assist the industry concerns.”

He further assured the government’s full support to industry in the auctioning process, adding that the government is working to assist the industry in ensuring that the industry gets necessary approvals.

Elaborating on the importance of #states participation in the auction process, Jain told the industry that bidders should not be apprehensive about the response of the states regarding the coal mining process.

“This bidding round has been tailor-made, keeping in mind the demands of the states. Most states want this process as it will give them fiscal and monetary benefits from these mines,” he stressed.

India has the fourth-largest coal reserve in the world and still, coal imports are very high.

As such, “we want the private sector to also contribute towards the energy security of the country,” added M Nagaraju, Joint Secretary and Nominated Authority in the #Coal Ministry.

He further said that one of the reasons for high coal imports is due to non-competitive prices in the country.

“Now with the involvement of the private sector, there will be efficiencies and lowering of the prices which may lead to a drastic reduction in coal imports. There is no reason why we should be importing thermal coal in the country,” he underlined.

“We believe that this auction process will set the stage for the transformation of the coal sector in the country. It will help remove restrictions, improve ease of doing business and will be a huge investment opportunity,” said FICCI Secretary-General Dilip Chenoy. #imports #mines #energy #investors #bauxite #mines /fiinews.com

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