By TIOL News Service

NEW DELHI, AUG 09, 2024: MINISTER for Coal and Mines G. Kishan Reddy today addressed the national seminar on challenges and opportunities in the mines and minerals sector organized by the Mining, Geological, Metallurgical Institute of India, today in New Delhi. The seminar was attended by several key dignitaries including V.L. Kantha Rao, Secretary Ministry of Mines and other senior officers from the Ministry of coal and Ministry of Mines along with a spectrum of coal and mines stakeholders from Government.

G. Kishan Reddy also engaged in a constructive discussion with CEOs from both private and public sector companies involved in the mining and exploration industries. During the interaction, industry representatives presented the challenges they face, along with valuable suggestions and recommendations.

The Minister assured that all raised issues and proposed policy suggestions would be thoroughly reviewed and deliberated by the Ministry, with prompt actions to follow. Reddy expressed gratitude to the participants for their active involvement and encouraged ongoing feedback. He emphasized that such interactions are crucial for good governance and demonstrate the industry's dynamic nature and the importance of strong coordination with Government efforts.

Addressing the gathering of distinguished industry leaders, G. Kishan Reddy stated that India's vast natural resources will prove to be pivotal to the nation's journey towards Viksit Bharat - 2047 and attaining Atmanirbharta in the letter and spirit. He added that under the leadership of the Prime Minister Narendra Modi, the Government has brought about a paradigm change in the coal and minerals sector, making it transparent and competitive. He further stated that and detailed the Government's extensive efforts over the past decade to harness this potential through initiatives such as introduction of commercial auction regime for coal and mineral blocks, encouraging private sector partnership etc.

Minister further stated that Critical Minerals have emerged as drivers of modern economy and the Government of India has ensured that the country taps into this global opportunity through the launch of the National Critical Minerals Mission.

Minister also emphasised on the importance of private sector partnership and called on the industry leaders to become part of this unfolding growth story of India. He said that the Government has undertaken several measures to enhance ease of doing business to encourage their participation and also mitigate the risks associated. He stated that initiatives such as reimbursement of 50% exploration expenditure for Exploration License and Composite licence holders encourages greater participation.

G. Kishan Reddy also deliberated in detail on the steps being taken by the Government reduce import reliance in coal and measures to augment domestic coal producing capacity of the country. Reddy also discussed initiatives such as "Mission Coking Coal," aiming to produce 140 million tonnes of coking coal by 2030, and efforts to boost sustainable mining practices through the National Mineral Policy 2019 and advanced technologies. He added that, Coal India's focus on improving existing washeries and setting up new ones is important for reducing the import burden and meeting domestic demand. Initiatives such as Mission Coking Coal and focus on enhancing washeries capacity of India, will usher in a change in the coal ecosystem of India.

On the minerals front, Reddy acknowledged the capital-intensive nature of minerals exploration and highlighted the need for greater research, scientific enquiry and collaborations to enhance our capacities.

In line with the sustainable mining objective, Reddy highlighted the promotion of underground mining, with a target of achieving 100 million tonnes by 2029-30. Additionally, several measures are being adopted to advance clean fuel technologies, including coal gasification, extraction of Coal Bed Methane (CBM) gases, exploration of coal-to-hydrogen processes, and Carbon Capture and Storage (CCS).

In closing, G Kishan Reddy called for industry representatives to collaborate with the Government in advancing technology and innovation in the mining sector. "I am confident that today's conference will foster a thorough discussion 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 added.

The seminar provided a platform for robust discussions and exchanged ideas on the future of India's mining and minerals sector, reinforcing the Government's commitment to both industrial growth and sustainable development.