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coal investing

Indian PM to Relocate People Living near Coal Mines

Written by Investing News Network
|
Jun. 01, 2015 04:59AM PST

Mineweb reported that the Prime Minister of India has decided to relocate more than hundred thousand people living near coalfields in eastern India to new homes. The relocation will make it easier to douse underground fires that have burned for a century and mine huge reserves of premium coal.

Mineweb reported that the Prime Minister of India has decided to relocate more than hundred thousand people living near coalfields in eastern India to new homes. The relocation will make it easier to douse underground fires that have burned for a century and mine huge reserves of premium coal.

As quoted in the market news,

Reviving output from India’s nationalised coal sector has been one of Modi’s most tangible achievements during his first year in office, one that he hopes will secure continuous power to all and eat into an annual coal import bill of $15 billion.

Coal Secretary Anil Swarup stated:

The fact that the prime minister is directly involved shows that the government is very serious about it. It’s a huge task but the good news is that we have started moving in the right direction.

Click here for the full Mineweb report

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