Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lockdown to curb the spread of the coronavirus. Offtake by customers, such as power generators, fell to 39.95 million tonnes in May, down 23.3% year on year, though that represented a slight improvement […]
Category: Coal
Commercial coal mining: Empowered Committee of Secretaries to discuss auction methodology
The Centre has set up an Empowered Committee of Secretaries (ECoS) to deliberate on issues with regard to auction methodology and operationalisation of coal blocks allocated for commercial mining. The development comes soon after the government stated that it may launch the process of auction of coal blocks for commercial mining on June 11. “It […]
Govt may launch coal blocks auction process under commercial mining on June 11
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under the hammer. An official on the condition of anonymity said the “government will come out with the notice inviting tender (NIT) for auction of coal mines for sale […]
Centre, states to incur Rs 12k cr revenue loss in FY21 on lower coal, mineral consumption: Report
The Centre and key mineral producing states are likely to incur a revenue loss of up to Rs 12,000 crore in FY21 due to lower coal and mineral consumption during the coronavirus lockdown, a report said on Friday. “As per our estimates, the top five mineral producing states are likely to see an impact of […]
Finance Minister Nirmala Sitharaman unveils reforms in mineral mining sector
Finance Minister Nirmala Sitharaman on Saturday announced commercial mining of coal by the private sector, ending government monopoly in the sector. In her fourth tranche of the economic package, she said commercial mining will be done on revenue sharing mechanism instead of the regime of fixed rupee/tonne. The move will bring competition, transparency and private […]
Odisha extends ESMA by six months in coalfields in Talcher
The state government has extended the Orissa Essential Services (Maintenance) Act, 1988 or ESMA in the Mahanadi Coalfields Ltd (MCL) areas in Talcher by another six months, prohibiting strikes to ensure uninterrupted coal supply to power plants, according to a notification. The ESMA was clamped in MCLs Talcher coalfield areas on May 15, 2019 to […]
India’s coal production to clock record 700 mn tonnes in FY21: Coal Secretary
India will produce a record 700 million tonnes of coal in the current fiscal ending March 2021, helping cut down on imports, Coal Secretary Anil Jain said. India produced 602.14 million tonnes of coal in 2019-20 fiscal, marginally lower than 606 million tonnes output in the previous year. “We are on track to producing 700 […]
States get about Rs 103 cr as upfront payment for coal mines
A total of Rs 102.7 crore has been transferred to the coal-bearing states including Odisha and Chhattisgarh on account of upfront payment for blocks that were auctioned and allotted last year. The amount towards upfront payment to the coal-bearing states i.e. Chhattisgarh, West Bengal, Madhya Pradesh and Odisha was sanctioned, an official said. Of Rs […]
India’s coal import declines 29% in April due to coronavirus
The country’s coal import dropped by 29.1 per cent to 18.65 million tonnes in April due to the lockdown to contain the spread of coronavirus infection. The government had recently asked power generating companies to reduce coal import for blending purpose and replace it with domestic coal. The country imported 26.34 million tonnes (MT) of […]
Adani Enterprises to raise Rs 1,000 cr through NCDs
Adani Enterprises on Wednesday said its board has given in principle approval to Rs raise Rs 1,000 crore through NCDs on private placement basis. The company also said that it will seek shareholders’ nod for raising up to Rs 2,500 crore through QIP. The fund will be raised in one or more tranches, it added. […]
Coal India Limited upgrading relief measures, medical facilities for its workmen: CMD
Coal India chief Pramod Agrawal said the company is upgrading its relief measures and medical facilities for employees, and that no compromise would be made with regard to their health and security. “We are passing through testing times in the face of a raging novel coronavirus pandemic, a situation that is new in its challenge […]
Coal India output declines 11% to 40 million tonnes in April
State-owned Coal India Ltd (CIL) on Friday reported an 11 per cent decline in production to 40.38 million tonnes in April. The company had posted a total production of 45.30 million tonnes (MT) in the corresponding month of the previous financial year, CIL said in a filing to the BSE. Of the 40.38 MT produced […]