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Energy Network News: According to India's ** news on December 24, Indian Coal Minister Prahad Joshi (Pralhad Joshi) said on Wednesday that India's coal production will exceed 1 billion tons in the current fiscal year (2023-24 fiscal year), and he is confident about it.
India has set a coal production target of $10 for the 2023-24 fiscal year121.4 billion tons.
Speaking at the launch of the ninth round of commercial coal mine auctions, the minister said: "This year we will produce more than 1 billion tonnes of coal. ”
India expects coal demand to be $11 this fiscal year96.6 billion tons. He said India's electricity demand will double and double by 2030, so coal production will need to increase accordingly to meet the country's demand for coal**.
The ninth round of commercial coal mine auctions will include a total of 31 coal mines. The coal mines were auctioned off in four states: Jharkhand, Chhattisgarh, Madhya Pradesh and the southern state of Telangana. With the completion of the ninth round of auctions, the sale of 100 coal blocks will be concluded.
It is reported that India's coal production in FY 2022-23 is 89.3 billion tons. India** has set an ambitious target for increasing coal production to 1.4 billion tonnes per year by 2027By 2030, total annual coal production will further increase to 15800 million tons.
While global coal production growth is slowing, India is differentiating itself from other countries and is ambitiously increasing production significantly.
India is the world's second-largest coal producer, producing 89.3 billion tons, an increase of 148%, while coal production increased by 8 percent in the previous year7%。India currently accounts for more than 10% of global coal production, second only to China.
Coal imports are vital for India, and imports have been growing steadily. India** has been working hard to reduce its dependence on coal imports and achieve a "self-reliant India". Coal imports accounted for 24% of India's coal consumption in 2022, compared to just 12% in 2010. To become self-reliant, India** is aiming to increase domestic coal production to more than 1 billion tonnes in FY 2023-24 and another 1.5 billion tonnes by 2029-2030.
Coal-fired power generation remains a key factor in India's electricity production mix. Coal-fired power generation in India is expected to account for 72% of total electricity generation in 2023 and could slightly decrease to 64% by 2030. By then, coal could account for only 27% of global electricity generation.
Although India pledged to "phase down coal" at the COP26 global climate forum in Glasgow in 2021, this does not mean that overall coal demand has decreased. India's total coal demand is expected to rise from around 1.1 billion tonnes in 2022-23 to more than 1.6 billion tonnes in 2029-30, with coal for power generation accounting for two-thirds of total demand. India's share of global coal-fired power generation is expected to jump to 18% by 2030, up from 13% in 2023.
India's steel industry is also growing in coal use and, like its power sector, is more dependent on imports. In 2022-23, India produced 60.77 million tonnes of metallurgical coal, accounting for 7% of the total coal production. Metallurgical coal demand is almost twice that figure. India's steel industry is one of the fastest-growing industries in the world and has become the second-largest steel producer after China, with crude steel production reaching 124.7 billion tons. It was also the only country among the world's top nine steel producers to achieve growth in 2022, up 55%。It also has ambitious plans to increase steel production capacity from 1500 million tonnes to 300 million tonnes by 2030.
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