TFP Bureau, New Delhi, August 8, 2024: Union Minister for Coal and Mines, Shri G. Kishan Reddy, today addressed the National Seminar on Challenges and Opportunities in the Mines and Minerals Sector, organized by the Mining, Geological, and Metallurgical Institute of India (MGMI) in New Delhi. The seminar attracted significant attention from industry stakeholders, with key dignitaries including Shri V.L. Kantha Rao, Secretary of the Ministry of Mines, and senior officials from the Ministries of Coal and Mines.
During the event, Minister Reddy engaged in a constructive dialogue with CEOs from both public and private sector companies involved in mining and exploration. Industry representatives presented the challenges they face and offered valuable recommendations. Shri Reddy assured attendees that their concerns and policy suggestions would be thoroughly reviewed, with prompt action to follow. He emphasized that such interactions are crucial for good governance and highlighted the dynamic nature of the industry and the importance of strong coordination with government efforts.
In his address, Shri Reddy underscored the pivotal role of India’s vast natural resources in the nation’s journey toward “Viksit Bharat 2047” and achieving true Atmanirbharta (self-reliance). He lauded the leadership of Prime Minister Narendra Modi, under whom the government has transformed the coal and minerals sector, making it more transparent and competitive. The Minister detailed the government’s extensive efforts over the past decade, including the introduction of a commercial auction regime for coal and mineral blocks and encouraging private sector partnerships.
Shri Reddy also highlighted the launch of the National Critical Minerals Mission, which aims to position India as a leader in the global minerals market. He called on industry leaders to join in this growth story, emphasizing the government’s initiatives to enhance the ease of doing business and mitigate associated risks, including the reimbursement of 50% exploration expenditure for Exploration License and Composite License holders.
Discussing coal sector advancements, Shri Reddy spoke on “Mission Coking Coal,” which targets the production of 140 million tonnes of coking coal by 2030, and efforts to boost domestic coal production. He also mentioned Coal India’s focus on improving and expanding washeries to reduce import dependence and meet domestic demand.
On the minerals front, the Minister acknowledged the capital-intensive nature of minerals exploration and stressed the importance of research, scientific inquiry, and collaboration to enhance India’s capabilities. He also discussed the government’s commitment to sustainable mining, highlighting goals like achieving 100 million tonnes of underground mining by 2029-30 and advancing clean fuel technologies, including coal gasification, coal-to-hydrogen processes, and Carbon Capture and Storage (CCS).
In closing, Shri Reddy called for continued collaboration between the government and the private sector to drive innovation and technology in the mining sector.
“I am confident that today’s conference will foster thorough discussions on the challenges and solutions for a sustainable mining sector. The private sector’s innovation and risk-taking will be pivotal in making India the third-largest economy in the near future,” he concluded.
The seminar served as a platform for robust discussions, exchanging ideas on the future of India’s mining and minerals sector, and reinforcing the government’s commitment to both industrial growth and sustainable development.
