The world’s largest miner, Coal India Ltd, now aspires to be the “most-efficient” coal producer, with an aim to bring down costs to a “bare minimum” level as the sector opens up for commercial mining. “We are the world’s largest coal producer, but we wish to be the most-efficient coal miner,” newly-appointed CIL Chairman and Managing Director Anil Kumar Jha has said.
Jha, however, acknowledged that it would be difficult, due to the socio-economic situation of India compared with some of the efficient coal players like Australia. “Our socio-economic situation is different. When we open a mine, there is a huge demand for employment. The land losers want nothing but employment. Despite this, MCL (Mahanadi Coalfields Ltd) pays compensation of Rs 16 lakh in lieu of employment, but villagers demand employment,” he said. Read More