Coal India, BCCL Shares Surge as Coking Coal Declared Critical Mineral

• Coal India and Bharat Coking Coal (BCCL) shares rose up to 5% after the government designated coking coal as a 'Critical and Strategic Mineral'.
• The decision, based on recommendations from the High-Level Committee on Implementation of Viksit Bharat Goals and NITI Aayog, recognizes coking coal's strategic role in mineral security and the domestic steel sector.
• India possesses significant coking coal resources, primarily in Jharkhand, but currently imports about 95% of its coking coal requirements for the steel sector.
• This designation is expected to streamline approvals, improve ease of doing business, and accelerate exploration and mining, including private sector participation.
• The Economic Survey highlights coal's crucial role in India's energy mix, contributing 55% to national energy and fueling over 74% of power generation.

Why It Matters: Government's critical mineral designation for coking coal boosts Coal India, BCCL shares and aims to reduce import dependence.