Coal news and updates

CIL looks to diversify operations for green push

Coal India is looking to diversify its operations in the face of long-term uncertainty for coal because of the government’s thrust on renewable energy and considering entering mining of metals and minerals.

“We have a lot of experience in mining, hence metal or mineral mining would be an area where we might me comfortable venturing into,” a company executive said.

A May 10 tender inviting consultants for Coal India’s ‘Vision 2030’ said the Indian coal sector is at crossroads today with the government’s effort to push renewable energy due to international conventions on climate change, increase in carbon cess and other initiatives for the lesser use of coal. This requires ‘Vision 2030’ for the coal sector that takes into account environmental factors such as reduction of carbon footprint and abatement of global warming.

The document mentions that while Coal India has performed well in the last several years, the potential for performance of the sector needs to be assessed in light of multiple changes in the energy sector.

Source: Economic Times