In a bid to cut operational expenses, Coal India is reportedly planning to shut-down loss-making mines. In this regards, the company has identified 65 loss-making mines for closure. Around 40,000 workers, roughly 13 per cent of the total (3,09,455), employed in these mines will be redeployed.
Of the total, 62 are underground mines spread over four mining subsidiaries, Eastern Coalfields (ECL), Bharat Coking Coal (BCCL), South Eastern Coalfields (SECL) and Central Coalfields (CCL). Approximately 37 mines with 15,000 workers are expected to be closed this fiscal.
Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.