Abandoned mines: CIL shortlists 10 companies
In a significant development, Coal India Ltd has shortlisted 10 global majors including steel behemoth ArcelorMittal, to develop its 18 abandoned mines spread across Jharkhand and Bihar.
The mines which were abandoned earlier due to technical reasons have 1.6 billion tonnes of proven coal reserves, which includes approximately 350 million tonnes of coking coal.
According to a top CIL official, the resumption of production from these mines is expected to commence around three years from the signing of the contract. The company is optimistic about inking a contract with atleast a couple of the interested firms this fiscal, while the remaining are likely to be signed in the next financial year.
The official further added that the clearance for signing the contracts was expected from the Ministry of Coal in the near future.