By the conclusion of this year, twenty coal mines are expected to commence operations, as reported by the Press Trust of India (PTI) citing an official source. This development aims to decrease coal imports and address the escalating power demand in the country.
India stands as Indonesia’s second-largest coal export market. Projections suggest that India's peak power demand may surpass 400 GW by 2030.
The identified 20 coal blocks include seven from Coal India and three from Singareni Collieries Company Ltd (SCCL). Over the next three to four years, they are anticipated to contribute an additional 100 million tonnes (MT).
Coal India, a state-owned entity, currently contributes over 80 percent of the country's domestic coal output.
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SCCL operates under joint ownership by the Telangana government and the Centre, with a 51:49 equity ratio.
In a recent statement, Coal and Mines Minister Pralhad Joshi mentioned that India surpassed the milestone of 1 billion tonnes of coal and lignite production in the 2023-24 period. The country is inching closer to its goal of eliminating coal imports by 2025-26.
Official data indicates that India's total coal and lignite output reached 937 MT in the fiscal year 2022-23.
During FY24, approximately 22.20 MT of coal was imported for blending purposes, a decrease from 30.80 MT recorded in 2022-23.
Editing by Reiner Simanjuntak
