Coal Min allocates one mine each to NMDC, RINL; to add 10 MT output every year
The mines, located in Jharkhand, will boost coking coal production and reduce the steel industry's dependence on imported coal, it added.
"The Ministry of Coal has allotted two Coking Coal mines, Rohne and Rabodih, to the Steel Central Public Sector Enterprises (CPSEs)," it said in a statement.Allocated under the Coal Mines (Special Provision) Act, 2015, these mines will increase coal production by more than 10 MT (million tonnes) per annum and boost the coking coal production in the country. Advertisement
The ministry said this is a significant step towards reducing the dependence of the steel industry on imported coal.
The Rohne coal mine has been allotted to NMDC for sale of coal and will also serve the purpose of captive use of coking coal for its upcoming steel plant at Nagarnar.The Robodih OCP coal mine has been allotted to RINL for captive use of production of iron and steel.
These mines will over their lifetime generate about Rs 7,000 crore revenue for the state government, besides royalties and other applicable taxes.Both NMDC and RINL would set up their washeries for washing coal. This allotment is in addition to five coal mines which have been allocated to successful bidders and six mines which have allotted to PSUs. Advertisement
In all, the 13 mines will add more than 35 MT per annum coal to domestic production. Apart from the royalties and applicable taxes, the mines are slated to generate about Rs 31,000 crore revenue over their lifetime for state governments. KKS ABM
(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)
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