The Centre is preparing to launch 'Coal Reforms 3.0', aimed at reducing overall coal imports and increasing the availability of coal for industrial sectors. The Ministry of Coal plans to unlock the domestic production of coking coal through several steps.
Following coal nationalisation in 1971 and the introduction of the e-bidding regime in 2015, the ministry views this as the third wave of reform, targeting non-power sectors, especially the steel industry. According to ministry sources, the government is targeting zero imports in the next two financial years.
The initial step involves a new forward bidding auction where domestic coking coal will be auctioned through two routes. "One route will be for steel units with washeries, and the other for those without. Those opting to wash their own coal will be allowed to sell the byproducts as well," said an official.
The official added that the coal ministry would remove end-use restrictions for auction participants. Bharat Coking Coal (BCCL), one of Coal India's (CIL) seven subsidiaries, will establish washeries for this purpose. BCCL is the largest coking coal miner in the country.
This story is from the June 17, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June 17, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Keep gods out of politics: SC
Says no proof yet, slams CM Naidu
Women & child care get booster shot as hospitals eye growth
Sensing high demand for specialised women and child health care services, hospitals are ramping up new centres, expanding workforce and bringing more super-specialities into their fold.
THE NECESSARY AND THE BEAUTIFUL
Emami has built itself through acquisitions. But there is more coming, with a startup turn
Make in India @ 10: A vision for global manufacturing leadership
On this momentous occasion of 10 years of the Make in India, it's time to reflect on the transformational journey India has undertaken towards the mission of making itself a global manufacturing hub.
Rajasthan signs ₹12.5 trn MoUs ahead of investment meet
Investment agreements (MoUs) worth ₹12.5 trillion have been signed during Mumbai and Delhi roadshows in the run-up to the \"Rising Rajasthan\" global investment summit to be held in Jaipur from December 9-11, Rajasthan Chief Minister Bhajan Lal Sharma said on Monday.
SURRENDER VALUE NORMS KICK IN TODAY Life insurers begin rolling out revised bestsellers
With the new surrender value norms effective from Tuesday, most life insurance companies are immediately rolling out revised versions of their bestselling, non-participating products.
Traders must classify imports of lab chemicals under appropriate heads
We refer to Para 5.15(c) of HBP 2023, which was amended by the recent Public Notice no.15 dated 25th July 2024. Will this amendment apply to EPCG authorisations issued in the previous policy periods also?
Chinese stocks enter bull mkt with biggest surge since 2008
Chinese stocks extended one of their most remarkable turnarounds in history, soaring for a ninth straight day as government stimulus entices investors back to one of the most beaten-down markets worldwide.
Sebi may maintain status quo on largecap stock pool expansion
20% smallcap and midcap investment leeway to keep largecap expansion in abeyance
Afcons Infra likely to opt for ₹4,000 cr pre-IPO placement
Afcons Infrastructure, part of Shapoorji Pallonji (SP) Group, plans to conduct a pre-listing sale of ₹4,000 crore, according to sources.
