The coal ministry has issued revised guidelines for preparing mine closure plans, incorporating a few stringent provisions.
Mine owners would now have to open escrow accounts with scheduled banks, with the Coal Controller’s Organisation (CCO) as an exclusive beneficiary. When the final mine closure scheme is implemented by the owner five years before the scheduled closure of operations, the CCO may permit withdrawals from the escrow account proportionate to the quantum of work carried out, as reimbursement. The withdrawn amount every year should not exceed 20 per cent of the total amount deposited in the account.
