‘Import of thermal coal in the country to be completely stopped by 2024-2025’ indiabusinessport.com

New Delhi: Import of thermal coal in the country will be stopped completely by 2014-25, said Union minister of coal and mines Pralhad Joshi on Sunday.

Addressing the MINCON 2022 at Nagpur, the minister said that the government’s target is to produce 900 million tons of coal in the current year and 163 mines will be auctioned. “The value of mineral wealth in India was Rs. 1.9 trillion in 2021-22. The government is committed to its appropriate utilization and distribution.”

Joshi added that Vidarbha region’s role will remain important in developing India as a 5 trillion-dollar economy. “The union government will always extend complete support for new ideas and new research and will also provide necessary incentives.”

Union minister for road, transport and highway, Nitin Gadkari also addressed the conference. He said that industries based on mining can accelerate the progress of Vidarbha region. “The region has 75% of mineral and 80% of forest resources of Maharashtra. With proper utilization, they will increase the region’s share in the energy sector.”

Gadkari added that more investment in water, energy and communication is necessary to make India self-sufficient and a 5 trillion-dollar economy. “India’s energy needs are increasing and more coal will be needed in the future. Only Vidarbha region can fulfil this need.”

He said that the state governments, like the centre, should save time by using modern working systems. “State governments should provide the required licenses for these sectors at the earliest with emphasis on time planning and transparency. These sectors should reduce the country’s urea import of Rs. 60 thousand crores by producing ammonium nitrate and urea from coal. these sectors should now formulate new policies to reduce fuel imports of 17 trillion. the steps have to be taken now for the closed mines and if the mine is not economically viable, the policies will have to be relaxed.”

The minister added that the country needs 6 million tons of manganese. “Vidarbha region should take the initiative to fulfil it. The mining industry and investors should come together to find a solution for a royalty based on the market price of coal. Transparency, timely functioning and corruption-free processes are very much necessary for the mining sector.”

The Maharashtra State Mining Corporation (MSMC) and Vidarbha Economic Development Council have jointly organized the Mines, Minerals and Metals conference.

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