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Coal India Approves 32 Mining Projects Worth $6.4 Billion

Coal India Ltd. approved an investment of about 473 billion rupees ($6.4 billion) on mining projects as the company seeks to boost output to replace imports of the fuel, the Kolkata-based miner said in an emailed statement.

The approvals include eight new projects as well as expansion plans for 24 existing mines, Coal India said. The 32 sites will have a combined peak output of 193 million tons a year, the highest capacity approved during a fiscal year, it said. The projects will produce 81 million tons annually from the financial year starting April 2023, by when the miner targets reaching 1 billion tons of annual production.