Coal news and updates

A parliamentary committee has said that the Ministry of Steel should have taken up the matter of waiving import duty and clean energy cess on coking coal at the highest level to protect domestic steel firms.

 

The Standing Committee on Coal and Steel noted that domestic steel makers are suffering from higher cost of power, finance, logistics and government levies as compared to their international peers.

 

In a report titled ‘Research and Development in Iron and Steel Sector’ tabled in the Lok Sabha on Wednesday, the Committee said, “The Ministry of Steel has desired that import duty and clean energy cess on coking coal be removed as 90 per cent of coking coal is procured through imported sources…the Ministry should take up the matter at the highest level.”

 

To provide relief to the domestic steel industry, last week the government had extended minimum import price on 66 steel products and also levied an anti-dumping duty on steel imports from six countries.

 

The committee also criticised the lack of seriousness on research and development of technologies suited to utilising locally produced iron ore variants. It recommended the speeding up of investments in steel making technologies and processes to ensure India becomes self reliant in utilisation of raw material resources.

 

“The committee has recommended to speed up the implementation of technologies/process developed by setting up of pilot plants/industrial trials for beneficiation and pelletisation of iron ore slimes, optimum coal blending, production of low phosphorus steel, production of quality steel through induction furnace…,” the report stated.

 

Fresh deposits

The committee also recommended that the process of exploring fresh iron ore deposits should be initiated at the earliest.

 

“Taking note of the fact that exploratory works are held up pending statutory clearances, the Committee felt that this aspect should no longer remain neglected and immediate steps should be taken for updation of mapping data of iron ore pending forest clearances,” the report stated.

 

In a separate report of the Standing Committee on Coal and Steel titled ‘Science & Technology/Research & Development in Mining Sector’ which was also tabled in the Lok Sabha, the committee lauded the initiative taken by various institutes in the R&D sector.

 

“The committee has appreciated the laudable initiatives put in place by various institutes working in the R&D sector of the mining industry and hope that earnest efforts are made to raise the dismal position of India’s ranking in the global scenario,” the report stated.

Source: THe Hindu Busines Line