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Investor conclave for Opportunities in Coal Sector

The Ministry of Coal and Ministry of Mines jointly organized investor conclave in Mumbai where Union Minister of Coal, Mines and Parliamentary Affairs, Shri Pralhad Joshi was the Chair, Chief Minister of Maharashtra, Shri Eknath Shinde was the Chief Guest, Minister of State for Coal, Mines and Railways, Shri Raosaheb Patil Danve and Minister of Mining for Maharashra, Shri Dadaji Bhuse were the Guests of Honour for the event.

Ministry of Coal has completed the successful auction of 64 coal mines in the first five tranches and has launched the process for auction of 133 coal mines under 6th round of commercial auctions and 8 coal mines under 2nd attempt of 5th tranche of commercial auctions where single bids were received in the first attempt on November 03, 2022.

Additional Secretary & Nominated Authority, Mr. M. Nagaraju welcomed all the investors and informed the forum about the coal reforms undertaken by Ministry of Coal to improve the attractiveness of the coal auction process and make it more investor friendly. Mr. Amrit Lal Meena, Secretary, Ministry of Coal reiterated the commitment of Ministry of Coal in supporting the coal industry and informed that Ministry of Coal is there to extend any help required by the prospective bidders. He also emphasised that the investors should participate in the coal mine auctions as coal mining business is highly profitable which can be seen from the coal mines which have started coal production under commercial mining.

Shri Vivek Bharadwaj, Secretary , Mines welcomed all the investors and emphasized on exploration and production of minerals beyond iron ore, coal, bauxite and limestone. He emphasized on exploration of critical minerals such as palladium, tantalum and lithium etc., which are used in electronics, telecommunication and green energy.

Shri Raosaheb Patil Danve stated that the Ministry of Coal has transformed the entire auction process of coal mines under the guidance of Prime Minister, Shri Narendra Modi and informed that while ~70% of the power is generated through coal in India, the ministry has also taken various initiatives to reduce carbon footprint considering the environmental impact of coal mining. Shri Pralhad Joshi reaffirmed that the usage of coal is going to stay at least for the next 25-30 years and that India is currently having very low per capita consumption of power as compared to some of the other developed economies in the world and it is estimated that the per capita consumption is going to double by 2040 for which coal is the necessity. The focus of the present government under the guidance of Prime Minister, Shri Narendra Modi is to become net zero carbon emission country by adopting better technological processes. Shri Eknath Shinde ensured that the Government of Maharashtra will actively participate in ensuring timely exploration, auction and operationalisation of the coal mines and ensured full cooperation from the Government of Maharashtra in expanding coal mining related activities in the state.

Mr. Manoj Kumar, CMD, CMPDIL gave a presentation on the technical details of the coal blocks being offered in the largest ever auction process, Mr. Chiranjib Patra, GM, CMPDIL presented on the investment opportunities in the MDO sector and Mr. Shubham Goel, Vice President, SBI Capital Markets delivered a presentation on the terms and conditions of the auction process.

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