Hazaribagh has the 2nd highest coal reserve in Jharkhand (1st is Dhanbad region) and is still largely intact. Recently there has been a spurt in the coal mining activities in the region by Central Coalfields, a subsidiary of Coal India Limited. Work is currently going on for the development of NTPC's 3000MW Super Thermal Power Project, and Reliance Power's 3600MW Thermal power project Super Thermal Power Project. A major NTPC township is also coming 10 km from city. Many Steel Plants and other industries are also envisioned due to its proximity to coal, water and power. Damodar Valley Corporation has a number of offices in Hazaribagh
