Coal news and updates

The Steel Ministry has asked Coal India to set up more washeries at coal mine pitheads .

 

According to Chaudhary Birender Singh, Union Steel Minister, the move is expected to help reduce coking coal imports.

 

“Replacement of raw material for steel (coking coal), which is currently being procured from Australia, is important. We have asked Coal India and the Coal Ministry for more washeries at pitheads,” he told reporters on Thursday.

 

Singh was speaking on the sidelines of the ground-breaking ceremony for MSTC’s corporate office here.

 

“With this effort, we hope to replace 25-30 per cent of import of coking coal,” the Union Minister added.

 

“We have asked steel-producing PSUs to use pelletisation to the maximum. Private players have been doing it for quite some time. So with this, we are hopeful of reducing import costs.”

 

According to the Minister, the Centre’s focus on ‘housing for all’ and increased movement of infrastructure projects are expected to create an additional demand of around ₹40,000 crore worth of steel in the country.

 

“Funds worth ₹4 lakh crore have been provided for the infrastructure sector in this year’s Budget. Even if just 10 per cent of the components used is steel, we will be selling ₹40,000 crore worth of steel. This is how I hope consumption would grow.

 

Source; The Hindu Business Line