Metal & power cos may lose coal mine allotment
The ministry of coal is planning to issue showcause notices to all companies that have failed to meet the milestone finalised for the development of captive coal mines. The move is aimed to ensure timely production from captive mines that is expected to generate over 20% of total production in the country by 2011-12.
“It has been observed that companies take coal blocks and sit on it for months before staring work on it. This would not be tolerable. If milestones are not met, we may go ahead and even cancel their allocation,” a senior official in the coal ministry said.
why ?