Union Minister for Coal Pralhad Joshi held a virtual meeting with Australia’s Minister for Resources Keith Pitt MP on Friday
We discussed enhancing strategic collaboration between organisations of both the countries on coal, critical and strategic minerals and related technologies, said Joshi
New Delhi: During a meeting with Australia’s Minister for Resources Keith Pitt MP, Union Minister for Coal Pralhad Joshi invited Australia to take part in the global tender for commercial mining, coal gasification and coal-to-chemical projects, and bring new technologies to these projects. “Invited Australia to participate in the ongoing global tender for commercial mining, coal gasification and coal to chemical projects and bring new technologies to these projects,” Joshi said in a tweet on Friday.
“We discussed enhancing strategic collaboration between organisations of both the countries on coal, critical and strategic minerals and related technologies,” said the minister.
Commercial mining, coal gasification has elicited interest global investors
The opportunities announced by the government in India’s coal sector seem to have garnered good response from global investors. According to an official, commercial coal mining has received a good response from both domestic and global entities. At a technical session held by the government on commercial coal mining a month ago, good participation was observed from foreign companies. The government, too, is keen on inviting global mining giants such as Rio Tinto, CVRD, and BHP Billiton, to India.
At another recently concluded webinar on coal gasification, organised by the Ministry of Coal, US-based global industrial gases company Air Products said that it is eyeing $10-billion investment opportunity in Indian coal gasification projects.
Two big-bang reforms in coal sector within a year
In August 2019, the government allowed 100 percent Foreign Direct Investment (FDI) in coal mining, processing and sale, through automatic route, paving the way for opening up the sector to foreign entities. And then in June this year, the Centre launched the auction process for coal blocks for commercial mining, opening up the sector to private and global players.
Coal Secretary Anil Kumar Jain recently said that emboldened by the response received for the first round of auctions for commercial coal mining, the government is planning to launch more bid rounds.
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