Senior bureaucrat Suresh Kumar is likely to be the new acting chairman and managing director of the world’s largest coal miner CIL.
Opportunities are poised to open for private oil and gas producers in coal-bed methane (CBM) extraction. Coal India Ltd (CIL) is likely to float global tenders to appoint service providers on this project.
Chief minister Naveen Patnaik has voiced discontent over the Coal ministry’s decision to allocate four new coal mines to Western Coalfields Ltd (WCL) instead of Mahanadi Coalfields Ltd (MCL).
The Cabinet on Wednesday relaxed rules for state-owned Coal India Ltd for extraction of natural gas lying below coal seams in its blocks in a bid to quickly boost production.
Coal India (CIL) is likely to hike the salaries of executives in the next two months, a move that will result in an additional annual outgo of Rs 10 billion, its chief Gopal Singh said on Thursday.
Preparing for a liberalised coal mining regime when private companies will be allowed to commercially mine and sell coal, state-run Coal India is looking at keeping its prices lower than the former by effectively decreasing production costs and attaining higher economies of scale.
India’s national coal mining company Coal India is expecting revenue growth to the tune of 6 per cent in the next three fiscals. The nominal growth is on the back of financial burden of the increased labour wage and salaries of executives and new pricing formula.
Indian conglomerate Adani Enterprises Ltd. will miss its original deadline to start shipping thermal coal from one of the world’s biggest planned mines due to funding difficulties, even as it eyes export deals with Asian companies.
The Enforcement Directorate has attached assets worth Rs 6.03 billion of a Chhattisgarh-based company in connection with the money laundering probe in the coal blocks allocation scam.
In the coming years, though government-owned Coal India is poised to maintain leadership in a liberalised regime for the commodity, the world’s largest coal miner is also threatened with losing its competitive edge, primarily for technical reasons.