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New UserInclude coking coal in the list of critical minerals: NITI Aayog report
22 Nov 2024
NITI Aayog recommends adding
coking coal to the critical minerals list. This move aims to boost domestic
production and secure coking coal supply for the Indian steel industry. The
proposal includes setting up two special purpose vehicles to expedite coal
mining and logistics projects. NITI Aayog also suggests amending the Coal
Bearing Areas Act for smoother private sector participation.
Besides, it has proposed setting up of two special purpose vehicles (SPVs) in the PPP model by the ministry of coal (MoC) for expediting the development of large, integrated coal mining, beneficiation, and logistics projects to maximize the use of domestic medium coking coal.
“The government must include ‘coking coal’ in the list of ‘critical minerals’
since coking coal constitutes approximately 42% of the cost of steel which is
an essential commodity for infrastructure development and downstream industries
(automobile, white goods, etc.), which are large job creators in India,” it
said citing the example of the European Union whose import dependence on coking
coal is less compared to be about 85% for India.