27 mines attracts 50 bidders, says Ministry
India continues to import coking coal and high-grade thermal coal, as these are required by the heavy industries and are not adequately available from domestic sources.
Despite possessing the fifth-largest coal reserves globally, the country faces a significant shortfall in higher grade coals which necessitates imports to sustain key industries, including steel production, and to meet the growing energy demand, the Coal Ministry said on 19 Dec http://coal.nic.in.
Coal imports during April-October FY 2024-25 decreased by 3.1%, to 149.39 million tonnes (MT) from 154.17 MT in the corresponding period of last year https://www.worldcoal.com/.
Additionally, Non-Regulated Sector (other than power) witnessed a more significant drop of 8.8%, during Apr-Oct’24 as compared to the same period of last year https://www.globalcoal.com/.
Although there was a significant growth of 3.87% in coal-based power generation from April 2024 to October 2024 compared to the same period last year, imports for blending purposes by thermal power plants decreased substantially by 19.5% during the same period, it said.
This decline underscores India’s steadfast commitment to achieving self-sufficiency in coal production and reducing reliance on imports, it said.
Increase in coal import for power sector is attributed to the import of coal by imported coal-based power plants (designed to utilize imported coal only) i.e. 30.04 MT during this period, up from 21.71 MT, reaching a growth of 38.4% in the corresponding timeframe last year.
Moreover, coal production during the April-October 2024 period demonstrated a commendable increase, reaching 537.57 MT compared to 506.93 MT in the same period of FY 2023-24, marking a growth of 6.04 %. This upward trend reflects the government’s ongoing efforts to streamline coal usage and enhance domestic production https://sbi.com.in/.
The Ministry said it continues to implement strategic initiatives aimed at bolstering coal production and improving availability. These efforts are not only focused on safeguarding foreign reserves but also on enhancing the nation’s energy security. The proactive measures taken by the government to increase domestic coal output will ultimately reduce dependence on imports and contribute to the overall sustainability of India’s energy landscape https://www.nseindia.com/.
The Ministry also reported that 50 bidders participated in the meeting for 11th round of commercial coal mine auctions.
The Ministry is offering 27 coal mines. A detailed presentation on the auction process was made by the Transaction Advisor, SBI Capital Markets Limited and technical presentation was made by technical advisor, CMPDIL, about the coal mines being offered under this tranche.
The Bid due date of this tranche of auction is 31 Jan 2025. Fiinews.com
