SECL has signed an escrow agreement for 72 mines to support mine closure, rehabilitation and community development.
South Eastern Coalfields Limited (SECL) has signed an escrow agreement for 72 mines to strengthen mine closure and rehabilitation activities.
The agreement was signed on September 28 at the Coal Controller’s Office in New Delhi. SECL’s Mine Closure and Rehabilitation (MCR) wing handled the process.
The escrow arrangement will support the systematic management of financial provisions linked to mine closure.
SECL Mine Closure Agreement Covers 72 Mines
The agreement covers 72 SECL mines.
It will help manage funds and activities related to mine closure and rehabilitation. The arrangement is also aligned with the Ministry of Coal’s mine closure guidelines.
SECL said the initiative supports responsible mining and sustainable development.
25% of Mine Closure Fund for Community Development
Under the escrow arrangement, 25% of the mine closure fund will be allocated for community development and livelihood activities.
The allocation will support communities in mining-affected areas. It will also fund development, rehabilitation and livelihood initiatives in mined-out areas.
The move links mine closure planning with community welfare and local development.
SECL Strengthens Responsible Mine Closure
SECL said the agreement is part of its broader approach to sustainable mining.
The company is focusing on environmental responsibility, community welfare and effective rehabilitation of mined-out areas.
The escrow mechanism is expected to provide a structured framework for managing financial provisions during the mine closure process.
Source: PSU Connect
