NITI Aayog's Bold Push for Coking Coal in Critical Minerals

In a significant move poised to bolster the domestic mineral sector, NITI Aayog's recommendation of including coking coal as a critical mineral has received broad industry support. Pankaj Satija, Chairman of the Indian Chamber of Commerce's National Expert Committee on Minerals and Metals, hailed the recommendation, calling it a step in the right direction.

The proposed inclusion underscores the importance of coking coal in India's steel industry, aiming to enhance domestic production. NITI Aayog suggests leveraging mechanisms such as Special Purpose Vehicles (SPV) and new exploration licenses, while also advocating for offshore mineral exploration investments to diversify resources.

As India's coal production continues to rise, driven by government initiatives and private sector efforts, the domestic coal industry is set to meet increasing demand. The Ministry of Coal projects a growth rate of 6-7% annually, aiming to reach 1.5 billion tonnes by 2029-30, reducing reliance on imports.

(With inputs from agencies.)