: Coal Ministry sets a target of 140 Million Ton production of coking coal by 2030 #FinanceIndia #StockMarketNEWS Coal Ministry sets a target of 140 Million Ton production of coking coal by 2030 New

@StockMarketNEWS Tue 28 Jun, 2022

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Coal Ministry sets a target of 140 Million Ton production of coking coal by 2030 #FinanceIndia #StockMarketNEWS
Coal Ministry sets a target of 140 Million Ton production of coking coal by 2030 New Delhi, June 25 (KNN) India has produced 51.7 Million ton raw coking coal during financial 2021-22 which is 15 per cent more as compared to 44.8 MT during FY21. It aims to reach its target of 140 Ton production by 2030.

Domestic raw coking coal production continues to witness a rising trend in the current fiscal as well with the production of 8.3 MT, as per data till May 2022, which is 20 per cent more compared to 6.9 MT during the same period of the previous year.

At present, domestic raw coking coal washing capacity is about 23 MT per annum including 9.26 MT of the private sector.

Coal India Ltd (CIL) is planning to set up nine more new washeries with a capacity of 30 MTPA.

With the setting up of new washeries, it is estimated that CIL will be able to supply about 15 MT of washed coking coal to the steel sector, thereby reducing the import of coking coal.

During FY 22, CIL supplied 1.7 MT washed coking coal to the steel sector and hasset a target of 3.45 MT during FY23.

To further enhance the production, the Ministry of Coal has auctioned 10 coking coal blocks to the private sector with a PRC of 22.5 MT during the last two years.

The Ministry has also identified four coking coal blocks and the Central Mine Planning and Design Institute (CMPDI) also will finalize GR for 4 to 6 new coking coal blocks in the next two months.

CIL has planned to increase raw coking coal production from existing mines up to 26 MT and identified nine new mines with PRC of about 20 MT by FY 2025.

With these transformative measures taken by the Ministry of Coal under ‘Atmanirbhar Bharat’ initiative of PM, domestic raw coking coal production is likely to reach 140 MT by 2030. (KNN Bureau)