Government Keen to Attract More Private Firms into Mineral Exploration – Shri Pralhad Joshi

Overall Coal Production likely to Touch 900 Million Ton ;

Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi said that the Center is making sustained efforts to attract more private entrepreneurs into mineral exploration. Mineral exploration will be carried out without adverse environmental impact through enhanced use of drones and other latest technologies, he said.

Addressing the two-day International Conference on “Indian Minerals & Metals Industry – Transition Towards 2030 & Vision 2047” organized by NMDC Ltd, Ministry of Steel, Ministry of Mines and FICCI here today, Shri Joshi said that through commercial coal mine auctioning Rs.25000 crore additional revenue has been generated last year and the State of Odisha stood first in revenue generation. The Minister called upon the Geological Survey of India (GSI) to focus on new-age minerals exploration.

Captive Coal Mine Production to Record 140 Million Ton This Fiscal

Touching upon some of the recent reforms initiated in the mining sector, Shri Joshi said that coal production from captive mines is expected to touch 140 million tons this year compared to 89 million tons last fiscal. Total coal production during this financial year is likely to record 900 million tons, the minister further stated.

In order to give further fillip to mineral exploration, National Mineral Exploration Trust (NMET) has been made an autonomous body, the minister added. Recalling his recent successful visit to Australia, Shri Pralhad Joshi said that compared to Australia our mineral exploration is restricted to a limited area.  He said that as a result of recent innovative initiatives and amendments in Acts and rules, 190 major mineral blocks have been auctioned during the last seven years. Pointing out that commercial coal mine auction is a big success, the minister urged the PSUs to start production from allotted coal blocks at the earliest or else the same may be surrendered to the ministry for re-auctioning.

Disclaimer: This is an official press release by PIB.