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Coal Ministry notifies rules doing away with CCO nod for opening, restarting coal mines – Cash My Currency- Financial Updates | Business Blog Post | Financial Guest Posting Services

Coal Ministry notifies rules doing away with CCO nod for opening, restarting coal mines

Coal Ministry notifies rules doing away with CCO nod for opening, restarting coal mines

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Seeking to improve efficiency in the approval process towards accelerating coal production, the government on Friday notified rules that does away with the Coal Controller Organisation’s (CCO) nod for opening a coal mine, individual seams or sections of a seam.

The notified amendment to the provisions entrusts the board of the concerned coal company with the authority to accord the required permissions. This would also apply to permission for re-starting mines that have not been operational for 180 days or more.

Importantly though, the notified rules mandate the board would be able to accord approvals only after it has received the requisite approvals from central or state governments and/or statutory bodies as relevant. Further, the board would have to submit information about the opening of mine to the CCO.

Essential to note, CCO approval continues being mandatory for entities other than coal companies.

The Coal Ministry states, “The overall reform strikes a balanced approach by delegating operational decisions to company Boards while retaining regulatory oversight and statutory safeguards.”.

More importantly, it expects companies to save up to 2 months in operationalisation of a mine.

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