Anthracite coal is a highly desirable resource with a variety of uses. It is primarily used in the manufacturing of steel, the production of cement, and the generation of electricity. 70% of the steel produced globally relies on coal (World Coal Association, 2013); 200kg of coal is required to produce one ton of cement (Van Oss, 2012); and 41% of global electricity production relies on coal (Clemente, 2012). Anthracite is the highest ranking coal because it is older and harder, contains more carbon, has lower moisture content, and burns hotter than any other type of coal. Comprising only 1% of global reserves, anthracite is also the cleanest burning fossil fuel on the planet (Cornerstone, 2013).
Once the joint venture with Prina Energy Aim intends to sell its output to international customers through the joint venture corporation concentrating the marketing efforts in India.
The unavailability of Anthracite Coal in India creates a huge potential for coal as a fuel for Indian Steel industry, which is growing on progressive and steady pace. Huge scope for growth is offered by India’s comparatively low per capita steel consumption and the expected rise in consumption due to increased infrastructure construction and the thriving automobile and railways sectors.