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In India, coal mining came under the Government ownership and control in 1956. Previously it was completely owned by the private sector. United Coal Limited (UCL), a new public-sector company was formed in 1980 to provide better operational and organizational efficiency in the coal sector. Within a short span of time, UCL became the largest coal producer in the world and was awarded the prestigious ‘Maharatna status’ by the Government of India. UCL had 85 mining areas under operation in ten states of India. However, the company faced some major challenges, hence after. UCL also decided to downgrade 225 mines, which translated to a loss of around 1080 crores and loss of employment of 15000 workers. Another issue that UCL experienced was the rampant corruption in the coal block allocations and pilferage during the transportation of coal. |
