Coal slag from coal mines is becoming a booming business.
The industry is booming as the supply of the metal is dwindling due to mining regulations.
The industry was valued at Rs 4,000 crore in 2014-15, according to data compiled by India’s Bureau of Mines and Geology.
Mining minister Nirmala Sitharaman has said that the government will consider the possibility of introducing coal slag taxation.
Coal mining is booming in India, and its boom is likely to be driven by the government’s attempts to curb pollution and increase coal production, says Abhishek Khandelwal, senior economist at consultancy IHS Markit.
It will also help the country’s mining industry to generate jobs.
“This is a big boost to mining as there is a need for the workforce, which is currently very low, to be able to get their wages and be able contribute to the economy,” says Khandelswal.
“The mines will generate jobs and the industry will grow as a result.”
The demand for coal mining is likely also driven by increasing interest in the country by foreigners, who want to use the metal for their projects.
The mining industry has also seen a surge in the number of foreign mining companies in recent years.
India’s coal sector is expected to generate around 15-20 per cent of the countrys total coal output by 2022, says the Indian Mines and Petrochemicals Corporation (IMPC), which is in charge of the mines.
However, there is also the potential for the mining industry’s growth to slow in the future.
Mining industry growth has declined in recent times as mining regulations have tightened, says K Handelswal, citing mining sector’s “significant challenges in compliance”.
According to the Ministry of Coal and Petroleum (MCPC), there are around 50 mines across the country that have a turnover of around Rs 2,000-3,000 crores annually.
The MCPC estimates that around 1,000 coal mines are under construction.
In India, coal is used for fuel in power plants, for fuel for industrial and commercial processes, and for mining and mining-related products.
According to industry experts, the mining sector in India has faced a “very challenging period”.
Mining has faced several challenges over the past decade, including the collapse of the coal-mining industry in the United States and China, the decline of the global coal market, and the introduction of pollution controls.
Coals are still used in almost 70 per cent by most Indian households, but the sector has been hit by the “economic slowdown” in China and a rise in domestic demand for energy.
The sector’s exports of coal to China and other countries have also been affected.