Whitehaven Coal sees higher prices on disruptions
The company's Blackwater and Daunia mines in Queensland, which it recently purchased from BHP, produced 4.8 million tonnes.
India is considering partnering with private companies to operate mines that have been previously shut or production discontinued by state-run Coal India Ltd, the federal coal ministry said in a statement on Thursday.
Coal India, which accounts for over 80% of India’s output, was looking to offer more than 100 such mines to the private sector on a revenue-sharing basis in “due course of time,” the coal ministry said.
The ministry said it had held a consultation meeting, which it said attracted “huge participation” from companies including Essel Mining, Adani Enterprises, Tata Power, JSW and Jindal Steel.
“There are many mines which were discontinued/closed in the past by Coal India due to several reasons and these could be reopened and productively brought into operation with the partnership of the private sector,” the ministry said.
It was not immediately clear if and when the plan will be implemented.
The move comes at a time when India is battling a coal shortage as supplies from Coal India are below burgeoning demand due to a pickup in industrial activity. Imports are inaccessible for many companies due to surging global prices.
(By Sudarshan Varadhan; Editing by Frank Jack Daniel)
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