Coal news and updates

The meeting of inter-ministerial group (IMG) on coal blocks to look into the issue of bank guarantees related to 61 mines alloted to firms such as ArcelorMittal, Tata Steel and JSPL which was to be held today has been postponed to next week.

 

"Due to unavoidable reasons, the 27th meeting of the IMG is further rescheduled and will now be held on June 19...To consider the issue of Bank Guarantee in respect of coal blocks which were reviewed in 24th IMG meeting," according to meeting notice.

 

"The 27th IMG meeting...Was to be held initially on June 10, 2014 and subsequently on June 11,2014," the notice added.

 

It will be the IMG's first meeting since the new government has taken charge last month after the general elections. Piyush Goyal has been appointed Minister of State (Independent Charge) for coal, power and new & renewable energy.

 

 

Some of the coal blocks reviewed in the February 7-8 meeting are Moitra mine allocated to Jayaswal Neco Ltd, Seregarha mine jointly alloted to ArcelorMittal and GVK Power, Ganeshpur mine jointly alloted to Tata Steel and Adhunik Power and Natural Resources Ltd and Jitpur block allocated to JSPL.

 

The Coal Ministry had in February decided to deallocate around 30 coal blocks of companies like JSPL, AreclorMittal and Sterlite Energy for delays in developing the mines allocated to them for captive use.

 

It followed the IMG recommendations which had suggested the deallocation of mines. The panel had reviewed the progress of development of 61 coal blocks.

 

The panel also reviewed 10 coal blocks of companies including JSPL, Tata Steel and JSW Steel and gave them 8-9 months to obtain stage II forest clearances.

 

 

Source: PTI