Coal news and updates

The coal ministry will initiate action against nearly 60 companies for moving slow in mining coal blocks allocated to them for captive use, a senior official told ET. The ministry will be sending notices this week to developers of 48 coal blocks, seeking an explanation for delay in development of mines, the official said, adding that other companies will also be issued notices soon. 

 

The companies facing action include steelmaker Tata Steel, aluminium and copper producer Hindalco Industries, and power producers NTPC, Essar Power and Adani Power. 

 

The move comes nearly five months after an inter-ministerial group suggested that show-cause notices be issued to companies that have been slow in developing the blocks. The ministry, however, says that it could not send the notices earlier as it was busy with CBI investigations. 

 

"Suitable actions against the companies will be taken after the inter-ministerial group hears their responses," the official quoted earlier said. "We have prepared all the notices and will start issuing them to individual companies this week," the official said, adding that the ministry may recommend cancellation of licences in cases where companies fail to justify the delay in developing the mines. 

 

The coal ministry will initiate action against nearly 60 companies for moving slow in mining coal blocks allocated to them for captive use, a senior official told ET. The ministry will be sending notices this week to developers of 48 coal blocks, seeking an explanation for delay in development of mines, the official said, adding that other companies will also be issued notices soon. 

 

The companies facing action include steelmaker Tata Steel, aluminium and copper producer Hindalco Industries, and power producers NTPC, Essar Power and Adani Power. 

 

The move comes nearly five months after an inter-ministerial group suggested that show-cause notices be issued to companies that have been slow in developing the blocks. The ministry, however, says that it could not send the notices earlier as it was busy with CBI investigations. 

 

"Suitable actions against the companies will be taken after the inter-ministerial group hears their responses," the official quoted earlier said. "We have prepared all the notices and will start issuing them to individual companies this week," the official said, adding that the ministry may recommend cancellation of licences in cases where companies fail to justify the delay in developing the mines. 

 

 

Source: ET