In a bid to unlock coal reserves from its closed and discontinued underground mines, Coal India (CIL) has awarded 23 such mines to private operators on a revenue-sharing model. These mines have a cumulative peak rated capacity of 34.14 million tonnes per year, with estimated total extractable reserves of 635 million tonnes. The minimum revenue share is set at 4 per cent, and the contract period is a maximum of 25 years. The bidding process for another 11 mines is in an advanced stage.
CIL has identified 34 dormant mines with high-quality coal reserves. Previously, Coal India planned to close down unviable mines, both open cast and underground, to save costs. Of the 34 identified mines, West Bengal-based Eastern Coalfields and Jharkhand-based Bharat Coking Coal account for 10 each. Western Coalfields has 5, South Eastern Coalfields has 4, Mahanadi Coalfields has 3, and Central Coalfields has 2. The benefits of this initiative, including resource conservation, substituting imported coal for non-regulated sectors, and providing livelihoods to local communities. There will be no additional land degradation, as the existing mining infrastructure will be utilised. CIL is also identifying more mines to attract wider participation, with relaxed bid norms.
Coal India (CIL) is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
| Company Name | CMP |
|---|---|
| Coal India | 388.25 |
| NMDC | 214.40 |
| GMDC | 326.75 |
| MOIL | 333.00 |
| Sandur Manganese | 414.45 |
| View more.. | |
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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