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[Ferro-Alloys.com] Indian steel industry has welcomed Indian Government’s decision to promulgate an ordinance to open up coal mining in the country to non coal companies. Indian Steel Association said “This is a huge reform announced by the Government on commercial mining in Coal. This change in Act will help the country to reduce its dependence on coal imports and help attract investments from Indian and Global corporates. The amendment will remove the end-user restrictions besides allowing seamless transfer of environment and forest clearance in operational mines. The step taken today was a long pending reform which will make the domestic steel industry more competitive on a global level.”

 

JSW Steel Chairman Mr Sajjan Jindal said the move will go a long way in reducing the coal imports. He said “Huge reform announced by the Government on commercial mining in coal. This will go a long way in reducing the coal imports which is over USD 15 billion per year. In today’s time when the oil prices are very uncertain, the decision was path breaking in making India self-reliant. Continuity of all forest and environment clearances for iron-ore mines for a period of two years is another great reform. This was a long pending reform which will make the Indian Steel industry more aggressive and competitive on a global level.”

 

JSPL MD Mr VR Sharma termed the decision as a game changer for the industry. He said“They are spreading on international platforms that using coal is damaging the environment, which is incorrect. Like we do at our Angul plant which is India’s first and largest syngas-based DRI plant and coal gasification plant for steel-making. Coal can be converted into syngas which can be used for producing petrol, diesel and other petroleum products, which can reduce dependence on crude oil imports.”(Steel Guru)