Union Coal Ministry Grants Vesting Orders for 22 Coal Mines, Creating Thousands of Jobs & Revenue Boost
The Union Coal Ministry has recently taken a significant step towards the development of the coal sector in India. On Thursday, the ministry issued vesting orders for 22 coal mines, boasting a combined reserve of an impressive 6,379.78 million tonnes. This move is expected to generate a substantial number of employment opportunities, exceeding two lakh jobs, and contribute an estimated annual revenue of over Rs. 23,000 crore for the states.
Among the mines granted vesting orders, 16 have undergone full exploration, while the remaining six have been partially explored. It is worth noting that 11 of these mines fall under the purview of the Coal Mines (Special Provisions) Act, while the rest operate under the Mines & Minerals (Development and Regulation) Act.
These vesting orders are a significant outcome of the commercial auctions conducted so far, with three orders having already been issued. The government’s commitment to the growth of the coal industry is evident through these strategic steps, which aim to leverage the potential of these mines effectively.
By granting vesting orders for these coal mines, the Union Coal Ministry has set the stage for robust economic development in the mining regions. The creation of over two lakh jobs will not only improve the lives of many individuals but also contribute to the overall prosperity of the respective states. Furthermore, the substantial annual revenue expected to be generated will undoubtedly bolster the financial resources available for various developmental initiatives.
Also Read: Hero MotoCorp to invest Rs 1,500 Cr in developing premium bikes and EVs in India
This progressive move by the ministry aligns with the country’s goals of achieving self-sufficiency in energy production and reducing dependence on imports. The coal sector plays a crucial role in fulfilling India’s energy demands, and the exploration and development of these mines will significantly contribute to meeting the nation’s growing energy requirements.
With the issuance of these vesting orders, the stage is now set for the efficient utilization of the rich coal reserves within these mines. The upcoming operations are anticipated to create a positive ripple effect, driving economic growth, and providing sustainable livelihoods for thousands of individuals in the mining regions.
About Coal Ministry:
The Ministry of Coal, a vital government department headquartered in New Delhi, plays a pivotal role in shaping and driving India’s coal sector. This crucial portfolio is currently led by Cabinet Minister Pralhad Joshi, who oversees the ministry’s operations and initiatives.
For more of the Latest News, Click Here
