The Coal India Limited (CIL) on Monday marked its 50th Foundation Day at its headquarters in Kolkata.

The celebration was graced by Union minister of coal and mines, G Kishan Reddy, as the chief guest, along with Vikram Dev Dutt, secretary of the ministry of coal, as the guest of honour.

Minister Reddy, launched the Golden Jubilee logo and unveiled the mascot “Angara.” The logo symbolizes CIL’s pivotal role as the backbone of India’s energy sector, reflecting the company’s commitment to innovation, progress, and sustainability.

The mascot embodies the strength and resilience of coal miners, highlighting their courage and dedication. The Mascot is inspired by the Royal Bengal Tiger. During his address, G Kishan Reddy extended heartfelt congratulations to the officers, staff, and workers of CIL for reaching the milestone of 50 years of operation and stressed that increasing coal production and enhancing supplies to reduce imports should be CIL’s foremost priorities.

He underscored the importance of miners’ welfare and the rehabilitation of communities affected by mine closures. “Contractual workers play a significant role in Coal India’s output, and I applaud the management’s decision to implement Performance Linked Incentives for them, effective FY 2023-24,” he stated.

The minister pointed out that under the visionary leadership of Prime Minister Narendra Modi, the Coal Mines Special Provision (CMSP) Act was enacted in 2015 to augment coal production through transparent allocation of coal mines via auction.

This initiative has been pivotal in ensuring coal availability for sectors such as steel, cement, and power utilities. He further stated that the launch of commercial coal mining in 2020 ushered in transparency, ease of doing business, and investment opportunities, helping to open the coal sector. Expressing confidence in CIL, he stated that the company has the competency and commitment to compete in the current open market scenario.

The minister reiterated that while coal will remain a central component of India’s energy landscape for the coming decades, the nation is also heavily investing in renewable energy and addressing climate change.

He commended CIL’s diversification efforts, including the setting up of a thermal power plant and foraying into critical mineral acquisition. In the Viksit Bharat initiative, Coal India has a vital role to play and it needs to shoulder this responsibility.

The coal secretary highlighted that CIL provides coal to Indian consumers at competitive rates compared to imported coal.

He added that coal stocks at power plants reached 31.6 MT as on October 28, 2024, as compared to 18.8 MTs of corresponding period of last year with a growth of 68 per cent, largely attributed to the contribution of CIL.

Coal secretary also said, Coal India should recalibrate its processes, operational and cost efficiency in accordance to the changing business dynamics.