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Coal India plans to use mine developers and operators (MDOs) to reopen mines abandoned due to safety and viability considerations
, according to Coal India, executives said.
The company may supply these mines to MDO under contract, many of which have good quality reserves
.
Even if MDO operates between 250,000 tonnes and 300,000 tonnes of high-quality coal a year, it will generate additional revenue
without new investment, executives said.
"These are sunken investments because these mines no longer generate earnings
.
Companies are always looking for ways to profit from this, as most of these mines, mostly underground, store high-quality coal
.
One executive said
.
Now, a company spokesperson confirms this development
.
Coal India originally planned to reopen abandoned mines
in 2011.
"Since there was no suitable technology at the time, we supplied about 15 abandoned coal mines
.
The offer was adopted by Coal India, however, private groups that have shown interest in the mines want to acquire at least a 49 percent stake
in them.
Partha Bhattacharyya, former chairman of Coal India, said, "There was no such provision at the time and the government did not agree to sell shares
in these mines.
" ”
Coal India plans to use mine developers and operators (MDOs) to reopen mines abandoned due to safety and viability considerations
, according to Coal India, executives said.
The company may supply these mines to MDO under contract, many of which have good quality reserves
.
Even if MDO operates between 250,000 tonnes and 300,000 tonnes of high-quality coal a year, it will generate additional revenue
without new investment, executives said.
"These are sunken investments because these mines no longer generate earnings
.
Companies are always looking for ways to profit from this, as most of these mines, mostly underground, store high-quality coal
.
One executive said
.
Now, a company spokesperson confirms this development
.
Coal India originally planned to reopen abandoned mines
in 2011.
"Since there was no suitable technology at the time, we supplied about 15 abandoned coal mines
.
The offer was adopted by Coal India, however, private groups that have shown interest in the mines want to acquire at least a 49 percent stake
in them.
Partha Bhattacharyya, former chairman of Coal India, said, "There was no such provision at the time and the government did not agree to sell shares
in these mines.
" ”
