Coal India Limited (CIL), the holding company of these coal companies, contributes about 30 percent of its total royalties to Jharkhand alone, while the share of production from the state is around 20 percent.
New Delhi (Natural Energy News): Coal Minister Prahlad Joshi said on Thursday that 742 million tonnes of coal in Jharkhand is expected to generate revenue of about Rs 18,889 crore.
"Coal companies - CCL (Central Coalfields Limited), BCCL (Bharat Coking Coal Limited) and ECL (Eastern Coalfields Limited) are wanted to generate 742 million tonnes (MT) of coal in the successive 4 years, developing revenue of about Rs. 18,889 crore, ”the minister said.
He said that during the last four years, the state earned around Rs 4,000 crore every year, which is about Rs 16,000 crore.
He said that Coal India Limited (CIL), the holding company of these coal firms, contributes about 30 percent of its total royalties to Jharkhand alone, while the share of production from the state is around 20 percent.
He said that Jharkhand is the only state in the country where three coal companies are simultaneously mining coal from their mineral-rich soil.
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According to a statement from the Ministry of Coal, the Minister said that commercial coal mining will promote development in Jharkhand in the coming years.
The minister said that nine blocks of Jharkhand are sold for commercial mining, the eastern state will generate more than Rs 3,200 crore a year and create about 50,000 additional jobs for the people of the state.
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Additionally, Jharkhand's contribution to the District Mineral Foundation (DMF) will be around Rs 17 crore, which can be used for the development of the surrounding areas.
So far, the response to blocks put up for auction for commercial mining has been very good, he said and insisted that 5-10 blocks showed interest for each of the nine blocks.
Emphasizing the need to introduce commercial coal mining, Joshi said that India still fulfils one-fifth of its annual coal requirement through imports.
Once commercial mining starts, imports are likely to be made by independent thermal power plants and captive power plants, saving about Rs 30,000 crore in potential import bills each year.
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Also, it will boost by producing extra than three employment directly or indirectly.
Highlighting the importance of mining for Jharkhand, Joshi said that the region is the lifeline of the state and plays an important role in its development.
Coal companies operating in the state have been working for decades now, digging coal from the mineral-rich soil of Jharkhand and paying revenue to the state for its development.
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