unglobalcompact.docVIP

UN GLOBAL COMPACT Communication on Progress Year: 2010 NORTHERN COALFIELDS LIMITED (A Subsidiary of Coal India Ltd.) (Mini Ratna Company) AT PO: Singrauli, Dist. Singrauli Pin Code: 486 889 (M.P.) NORTHERN COALFIELDS LIMITED (A Subsidiary of Coal India Ltd.) (Mini Ratna Company) Communication on Progress Year: 2010 EXECUTIVE SUMMARY OF NCL For the economic prosperity and equitable development of India, the growth of coal mining industry is inevitable. Mother Nature has been very stingy in blessing us with alternate sources of energy hence coal sector will always continue to play a pivotal role in the economy especially in the current socio-economic political framework. Its role is further magnified to sustain an economic growth over 8% in the next 25 years to eradicate poverty and meet larger human development goals. India’s industrial heritage was built upon its indigenous coal largely mined in south- eastern quadrant of the country. In India, 80% of the mining is in coal which is its most important and abundant fossil fuel and meets the country’s 55% of energy needs. It is evident that India’s energy security would have to be primarily linked to coal for at least a couple of decades due to paucity of other fossil fuels viz. Oil, Gas and current technology available for renewable/non conventional energy sources in the nascent stage. In view of demonic energy demand, the expectation from Northern Coalfields Limited (NCL) are definitely in humongous proportion as opencast coal mining will continue to remain a dominant mining method for at least coming few decades. Northern Coalfields Limited– a Mini Ratna Company is a subsidiary of Coal India Limited. After the nationalization of Indian coal industry, Coal India Limited (CIL) was established in 1975 with five subsidiary companies under it, viz, Eastern Coalfields Limited, Bharat Coking Coal Limited, Central Coalfields Limited, Western Coalfields Limited, and Central Mine Planning and Design