NTPC to transfer mines to its newly formed subsidiary

New Delhi: Maharatna PSU NTPC on Wednesday announced that it will handover its mines to its newly formed wholly-owned subsidiary, NTPC Mining Limited, said a news report by ET Government. It also said that the subsidiary will also be responsible for carrying out mining activities.

Process of transferring the assets has been initiated: Officials

Further, the NTPC officials stated that the process of transferring the assets has been initiated after receiving the nod from the coal ministry. Recently, NTPC Mining Limited (NML) signed an agreement with the Uranium Corporation of India Limited (UCIL) for exploration and mining of uranium and may add other critical minerals to the basket soon.

'Digital initiatives improved operational excellence & safety in mining operations'

Regional executive director (coal mining), Partha Mazumder said on Sunday that the asset transfer is taking place at a time when the coal mines have achieved substantial growth in coal production. He also added that the PSU produced 2.75 MT of coal during April from its four operational captive mines. He also added that the digital initiatives undertaken by the coal mining team of the Maharatna PSU have significantly improved operational excellence and safety in mining operations.

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