Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Pralhad Joshi, Union Minister for Coal and Mines, stated that the country's coal production will exceed one billion tonnes for the first time. India will stop importing substitutable coal starting next year, stated Joshi at the second State Mining Ministers' Conference.
The union minister predicted that the country's need to gasify coal will cause many problems in the days ahead.
"Along with these things (difficulties), as far as coal is concerned, this time we are going to cross production of one billion tonnes. This is happening for the first time... I am assuring the country that we are going to stop the import of all substitutable coal from next year," Joshi said.
According to him, the mining ministry is also very important for the country's economy to grow and become the third largest in the world, along with petroleum and natural gas.
Further, he said that Odisha's mining revenue was ₹5,000 crore in 2013-14, and after the auction was resumed in 2018, it went up to ₹25,000 crore. He added that when the Centre liberalised the policies and clearances, revenue increased to ₹49,000 crore in 2022-23.
Joshi also said that the prime minister told him to remember that it is a 'sin' to import minerals available in the country. Although the world order is changing, Joshi said, India will be at the forefront in the 21st century.
The conference's theme is 'Mining and Beyond', and participants came from prominent mining companies, exploration companies, consultancies, and startups. On the occasion, Madhya Pradesh was also given the 'Award of Appreciation' for securing first place in the country's mineral block auction during 2022-23.
Also Read : Captive, commercial coal blocks output climbed 27% to 147 MT in FY24 India added 21 GW solar module, 3 GW cell manufacturing capacity in 2023
Tata Steel shares fell nearly 4% post a 2.09 million-share block deal. Market reaction driven by di...
Business 09-Apr-2025
Tata Steel Tubes Division crosses 1 million tonnes in FY25. Strong demand in infra, auto, and const...
Business 19-Apr-2025
India is projecting its biggest power shortfall in 14 years in June after a slump in hydropower gene...
Announcement 10-May-2024
Adani Green Energy Limited (AGEL), the green arm of the Adani conglomerate, successfully secured fun...
Large Corporate 29-Jan-2024
Jai Balaji Industries Ltd (JBIL), a city-based steel product company, showed a standalone net profit...
Mid Corporate 26-Apr-2024
Steel Authority of India Powers Iconic J&K Rail Bridges The Steel Authority of India Limited (S...
Large Corporate 09-Jun-2025