NEW DELHI, March 28 India will meet its target of doubling coal production by 2020 without the help of private miners, the country’s coal and power minister said, ruling out new measures to entice cash-strapped companies to begin mining the commodity.
India wants to produce 1.5 billion tonnes of coal by 2020 to power its economy and reduce imports. State-owned Coal India Ltd , the world’s largest coal miner, has raised production in line with reaching a target of 1 billion tonnes a year within four years and the government wants private miners to produce much of the remainder.
But only a few companies that won the right to mine coal for their power plants last year have started production as they struggle to recover their costs, while the ministry this month delayed plans to open up commercial mining to private firms because of weak demand and depressed coal prices.