Coal and Mines Minister Pralhad Joshi while emphasising on the importance of dry fuel in securing energy security on Saturday said that the government is undertaking various reforms in the sector.
Addressing a coal and mines conclave in Bengaluru, Joshi told investors that the future outlook of dry fuel is positive.
The coal ministry is organising various conclaves across the country to attract investors for auction of 141 blocks, which it is offering for commercial mining.
Senior officials of the coal and mines ministries, Karnataka Chief Minister Basavaraj Bommai and state government officials were also present on the occasion.
Joshi further said that the current contribution of the mining sector in the country’s GDP is 0.9 per cent.
Underlining the Centre’s aim of enhancing this contribution to 2.5 per cent by 2030, he indicated that there is a huge potential in the mining sector and urged investors to participate in this opportunity.
The coal ministry launched the sixth tranche of commercial coal mine auction on November 3, 2022, wherein 141 coal mines have been put on for offer including eight coal mines under the second attempt of fifth tranche.
The mines ministry has auctioned 108 mineral blocks since March 2021 as compared to 108 blocks auctioned in six years prior to that from 2015 to 2021.
Further, auction of 70 mineral blocks is under process.
The Geological Survey of India has handed over more than 200 explored blocks to state governments for auction.
More than 400 blocks are ready for auction in the country, official sources said.