Coal India (CIL) doesn’t view commercial mining as competition to the PSU miner since 54% of the country’s entire coal resource of 319 billion tonne would remain under its control as also having an edge over other companies with ready mechanism for quality and timely supplies. “Commercial coal mining is not going to adversely impact […]
Category: Coal
What Coal India is planning to boost output
Coal India Limited (CIL) will engage mine developer cum operators (MDOs) to increase its coal output and reduce import dependency of the dry fuel in the coming years. The Maharatna coal mining behemoth in the process has identified a total of 15 greenfield projects to operate through MDO model of which 12 are open cast […]
Coal mining: Focus on evacuation to lift output levels
When the Union government announced in May an investment of Rs 50,000 crore to upgrade coal evacuation infrastructure in the country, it was acknowledging the anomaly of India meeting one-fourth of its consumption needs through imports despite having the fourth largest coal reserves in the world. As Prime Minister Narendra Modi found out during a […]
Coal India share price jumps 8% as PM Modi sets the ball rolling on commercial mining
Coal India share price jumped 8 per cent to Rs 139.65 apiece on BSE in Thursday’s volatile session as PM Narendra Modi launched auction process of 41 coal mines for commercial mining. Coal India stock price has risen 17 per cent from its March low of Rs 119.25. The market capitalisation of Coal India stands […]
Coal sector liberation: PM Modi launches coal auction for commercial mining; lists out these benefits
In an effort to make India self-reliant in the energy sector, Prime Minister Narendra Modi today launched the auction of 41 coal mines for commercial mining, via video conference. In his address, PM Modi said for decades, the country’s coal sector was entangled in a web of captive and non-captive and was excluded from the […]
New Model: Privatisation kicks in with auction of 41 coal assets
As many as 41 coal mines with estimated reserves of 16,980 million tonne (MT) are up for grabs, with the government on Thursday launching the maiden auction after it allowed private players to bid for coal blocks, without any end-use restrictions. This would also be the first set of coal assets to be auctioned off […]
Coal India to engage MDOs in greenfield projects to ramp up production
Mining behemoth Coal India (CIL) has decided to engage mine developer cum operators (MDOs) to produce 168 million tonne (MT) per annum from 15 greenfield projects which will help in ramping up productivity to 1 billion tonne by 2024-25. Engaging MDOs in greenfield projects is a transformative plan, while having them to operate in 12 […]
Tata Sons chairman pitches for coal exchange; Vedanta’s Anil Agarwal advocates ‘self certification’
Tata Sons Chairman N Chandrasekaran on Thursday urged the government to consider setting up a coal exchange for transparent buying and selling of the dry fuel by multiple merchant miners in line with the existing commodity bourses. This, he said, would be major step towards achieving the target of USD 5 trillion economy. Speaking during […]
Ravva oil & gas fields: SC seeks response from Vedanta; asks parties to maintain status quo
The Supreme Court on Wednesday asked Vedanta to explain why it should be allowed to recover $499 million, instead of $198 million capped by the government, for development of the Ravva oil and gas fields off the Andhra Pradesh coast between 2000 and 2007. A bench led by Justice SA Nazeer sought response from Vedanta […]
Govt’s plan to cut coal import goes for a toss as FY20 breaks logistics chain; local output stagnant
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal imports and boost domestic production. Despite having the world’s fourth-largest coal reserves in the country, India imported about one-fourth of its domestic coal requirements in the last fiscal, mainly due to shortfall […]
PM Narendra Modi to launch auction for commercial coal mining next week
Prime Minister Narendra Modi will on June 18 launch the auction of coal mines for commercial mining at an event here via video conferencing. The launch of auction will be with the theme “Unleashing coal: New hopes for Aatmanirbhar Bharat”, the coal ministry said in a statement.
Coal India Limited set for marketing drive to create demand
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create demand amid concerns over fall in despatches. The company is primarily tapping domestic coal based power plants and non power consumers which import coal. CIL so long didn’t have to think of […]