Union Home Minister Amit Shah on Monday said coal sector will play a very important role in achieving the target of USD five trillion economy by 2022, the year marking the completion of 75 years of the country’s Independence. Launching a single window clearance system for the coal sector, he said commercial coal mining auctions […]
Category: Coal
CIL’s e-auction booking to be all-time high at 120 MT this fiscal
Mining behemoth Coal India (CIL) may close the current fiscal, booking 120 million tonne (MT) ) coal for e-auction, the highest ever since coal sales began through the auction route. This is near double the bookings of 66 MT made for e-auction last fiscal, surpassing the company’s earlier estimates of e-auction booking for the ongoing […]
Coal India: Maintain ‘buy’ with target price of Rs 158
Coal India’s (CIL’s) December 2020 operating performance was subdued with offtake down 2% year on year (YoY) to 52.6mt, while production volume was slightly up at 58.3mt. Key points, offtake growth slowed at all subsidiaries, though MCL and NCL continue to stand out. Production uptick sustains at CCL and NCL. Inventory is up at 57.7mt. […]
Taking several initiatives to augment coal evacuation infrastructure: Govt
The coal ministry has said the government is taking several initiatives to augment the coal evacuation infrastructure, including laying new railway lines. “However, the Government of India is also committed to development of coal sector infrastructure. “The government is taking many initiatives to augment coal evacuation infrastructure, including new railway lines, and presently undertaking studies […]
Coal India capex utilisation over Rs 8,000 cr till December, aiming at revised 13,000 cr target
Despite its cash-flow issues, Coal India Ltd has already spent over Rs 8,000 crore as capital expenditure (capex) till December 2020 in the current fiscal, and is looking to meet a revised target of Rs 13,000 crore of such expense by the end of FY’21, an official said on Sunday. The capital expenditure target for […]
CIL’s coal supply to consuming sectors grows 9 pc to 154.6 MT
State-owned Coal India Ltd (CIL) on Friday said the supply of coal to the consuming sectors rose 9.2 per cent to 154.6 million tonnes (MT) in the third quarter of the current financial year. The company had supplied 141.6 MT of dry fuel in the corresponding quarter of the previous financial year, the state-owned company […]
Coal India’s Q3 production grows 6.3%
Coal India (CIL) recorded a 6.3% year-on-year growth in production at 156.8 million tonne (MT) in the third quarter of the current fiscal, while its quarter-on-quarter growth was 36.4% over the production of 115 MT during the second quarter. Supplies in the quarter under review grew 9.2% y-o-y at 154.6 MT, compared to 141.6 MT […]
Current domestic coal production inadequate to meet country’s demand: Govt
The government on Thursday said the current domestic production is unable to meet the country’s demand, even though the country is the world’s second-largest producer of fossil fuel and the fifth-largest nation in terms of coal deposits. Currently, India is producing about 729 million tonnes of dry fuel, the coal ministry said in a statement. […]
CIL lines up 26,000-crore investment to diversify, mitigate environmental hazard
Caught between the target to be a net zero company and producing 1 billion tonne of coal by 2024, PSU miner Coal India (CIL) has lined up Rs 26,550 crore worth of investments for diversification and environmental hazard mitigation bringing about greater sustainability in operations. The diversification would include creating a solar portfolio, setting up […]
Govt mops up Rs 8,965 cr till November from auctioned, allotted coal blocks
The government mopped up Rs 8,964.75 crore till last month from the auctioned and allotted mines, according to the coal ministry. These revenue figures consist of upfront amount and monthly premium only, while royalty and taxes or cess are payable over and above these payments, the coal ministry said in its E-Booklet on reforms. Apart […]
CIL to invest Rs 3,370 cr to build railway sidings
PSU miner Coal India (CIL) will invest Rs 3,370 crore to construct 21 additional greenfield and brownfield railway sidings in four of its subsidiaries by 2024. CIL at present has around 152 rail sidings and the tally would go up to 173 by then. South Eastern Coalfields will account for ten of the proposed 21 […]
India’s mining sector to witness reforms, flurry of activities in 2021
The country’s mining sector will see “hectic activities” in the new year with the central government’s approvals for pending mining reforms expected in January itself and efforts continuing to bolster overall mineral output. The reforms will pave the way for auctioning of at least 500 mineral blocks, Mines Secretary Anil Kumar Jain told PTI and […]