Coal imports increased by 5.1 per cent to 189.9 million tonnes (MT) in the April-January period of the ongoing fiscal, according to a report. Coal imports were at 180.61 (MT) in the April-January period of the previous fiscal, the report by mjunction services showed. mjunction, a joint venture between Tata Steel and SAIL, is a […]
Auctions for commercial coal mining may not take place soon as the country is entering the election mode, said a senior government official. The statement comes amid resistance from the trade unions operating in the coal sector against commercial coal mining. “With the nation almost entering the election mode, I think it will be difficult […]
Coal India Ltd’s or CIL’s consolidated income from bank interest and other investment sources is likely to fall further this year following the Maharatna’s proposal to buy back shares worth Rs 1,050 crore. On a consolidated basis, the coal miner usually earns more than Rs 4,600 crore every year as interest from various banks, dividend […]
Hindalco Industries today reported a net profit of Rs 713 crore (including Utkal Alumina) for December quarter, up 47 per cent from same period last year on the back of higher revenues and lower finance cost even as input costs of coal furnace oil went up during the same period. The company’s revenue in the […]
Led by increased prices of coal amid lower provisioning for future expenses, Coal India posted a 50 per cent increase in its net profit at Rs 4,566.74 crore for the quarter ended December 31, 2018, beating Street estimates. The company’s net income grew 12.58 per cent to Rs 23,385.43 crore, despite the firm offering lower […]
Coal India Ltd, the world’s biggest coal miner, reported a 50.1 percent jump in third-quarter profit on Tuesday as it benefited from higher coal production. Its profit for the three months to December reached 45.67 billion Indian rupees ($646.5 million), compared with 30.43 billion a year earlier, the company said. The figure beat analysts’ average […]
Deocha Pachami coal block in Birbhum, the largest in Asia, is set to get technical support from mining experts in Poland, who have assured to remove all operational hurdles that might come in the way of mining the black gold.
Indian government subsidies for fossil fuels, including oil and gas, have decreased by 76% over the three years to 2017, but subsidies for the coal industry have remained stable over the same period, a new study by think-tank International Institute for Sustainable Development (IISD), has found.
The government on Wednesday said coal supply by state-owned CIL to the power sector increased 7.3 per cent to 407 million tonne (MT) in the current fiscal till February 4.
Coal India, on Monday, decided to buyback 44.68 million shares of the company from the market at a price of Rs. 235 apiece which will fetch the Maharatna company a targeted Rs. 1050 crore. Its cash rich subsidiaries – Mahanadi Coalfields (MCL), South Eastern Coalfields (SECL) and Northern Coalfields (NCL) – will be funding the […]
Coal India Ltd on Wednesday said its board would consider and approve buyback of its equity shares on February 4.
Expressing concern over serious environmental ramifications of carbon dioxide emissions from piles of ash lying at power plants, a top official of the Ministry of Environment, Forests and Climate Change (MoEFCC) has stressed on the need for use of better quality coal in power plants.