Mining behemoth Coal India will not have luxury to retain its loss-making mines with its aim to remain competitive in the wake of privatisation of coal blocks, a senior government official said on Monday. It is also expected that India will have a surplus of coal for thermal power plants by next year even though electricity demand grows by six per cent, he said.
“Reforms will make the coal sector more vibrant for consumers of the dry fuel but there will be churn in mining activities. I think Coal India will not have the luxury to drag on loss-making mines and continue with financially inefficient mines,” Coal Secretary A K Jain said while addressing a conference organised by Mjunction.
