After back-to-back downward corrections, steel prices are expected to rise from July due to high input costs, an industry executive said on Wednesday. “While coal price is at Rs 17,000 a tonne, iron ore prices by Odisha Mineral Corporation are still high. It is the main supplier of iron ore in Odisha,” JSPL Managing Director […]
Category: Coal
UltraTech Cement paying for Russian coal in Chinese yuan
India’s biggest cement producer, UltraTech Cement, is importing a cargo of Russian coal and paying using Chinese yuan, according to an Indian customs document reviewed by Reuters, a rare payment method that traders say could become more common. UltraTech is bringing in 157,000 tonnes of coal from Russian producer SUEK that loaded on the bulk […]
Coal ministry seeks help from World Bank to repurpose abandoned mines
The coal ministry said on Wednesday it sought assistance from the World Bank and other global institutions for repurposing its abandoned coal mines to make them environmentally stable and suitable for commercial purpose. Indian officials are rushing to make more coal available for utilities as shortages in the July-September quarter are forecast to be wider […]
India’s rush to avoid blackouts leaving iron firms without coal
Sponge iron producers in India are raising concern as fuel supply contracts won’t be renewed as the nation’s state-run coal miner continues to prioritise power plants in an effort to avoid blackouts. Supplies from Coal India Ltd for some producers are scheduled to end from August, which means the companies will be forced to rely […]
NTPC weighs new plants as coal phase-out must wait
India’s state power giant NTPC Ltd. said it may have to add new coal power capacity to meet the country’s surging demand for electricity, a policy shift triggered by recent energy shortages. “It’s too early” to talk about a coal phase-out, Gurdeep Singh, chairman at the New Delhi-based power producer, said at the BloombergNEF summit […]
India’s Russian coal buying spikes as traders offer steep discounts
India’s purchases of Russian coal have spiked in recent weeks despite global sanctions on Moscow, as traders offer discounts of up to 30 per cent, according to two trade sources and data reviewed by Reuters. Russia, facing severe Western sanctions over its invasion of Ukraine, warned the European Union in April against sweeping sanctions on […]
‘Coal Ministry should import all coal for power sector’
With overseas shipments becoming increasingly necessary to meet the burgeoning power demand in the country, centralised import for all electricity utilities by the coal ministry should be done as it would bring efficiencies and reduce cost, sources said. Two sources with knowledge of the matter said a view emerging in the power ministry is that […]
Coal India plans green mining options by leveraging technology to boost output
State-owned CIL is looking at green mining options by leveraging a slew of eco-friendly technologies in both underground and opencast mines, a move that would help in augmenting the production and reduce the adverse impact on environment. With land turning out to be a major pain point for expansion of coal mining operations, these technologies […]
Coal back in focus as scorching summer spikes energy demand
With unrelenting heatwave, particularly in parts of north-west, central and east India, the demand for power is shooting up. On June 10, the country’s electricity demand was at a record 211.85 GW, which according to energy experts, is only expected to go up further to 215-220 GW in two months. Besides scorching summer, the rise […]
CBI summons Trinamool MLA Saokat Molla for questioning in coal theft case
The CBI has summoned Trinamool Congress MLA Saokat Molla for questioning in a case of alleged coal theft from the mines of the Eastern Coalfields Ltd in West Bengal, officials said on Wednesday. The CBI asked Molla, an MLA from Canning Purba constituency, to appear for questioning at its office in Kolkata on Wednesday to […]
Coal India to source 6 MT more coal from overseas; floats medium-term tenders to boost domestic supplies
State-owned CIL on Friday floated two medium-term tenders for sourcing 6 million tonnes (MT) of coal from overseas, a move aimed at securing domestic fuel supplies amid the fear of shortage during monsoon. These two tenders for a total of 6 million tonnes coal have an option of increasing the bid quantity by 100 per […]
India ramps up coal output to reduce dependence on imports: Moody’s
Large coal-importing nations, including India, will look to ramp up the output of domestic coal to strengthen energy security and lessen dependence on the import of fossil fuels, Moody’s Investors Service said on Tuesday. The government has recently mandated CIL to import coal as an emergency measure to avoid a shortage of coal for the […]