MUMBAI: Adani Enterprises, the diversified flagship company of the Gautam Adani group with interests in coal mining, solar module manufacturing and edible oil business, reported consolidated net profit of ₹266 crore, up 47% from the ₹181.17 crore it reported in year-ago period, backed by a massive increase in coal mining volumes. Revenue for the quarter […]
Category: Coal
India’s coal import rises 13% to 21 MT in April
New Delhi: India’s coal import increased by 13.4% to 20.72 million tonnes in April compared to 18.27 million tonnes (MT) in the same last year, according to a report. Of the total imports during April 2019, non-coking coal or thermal coal shipments were at 15.08 MT, according to provisional data by mjunction services. Imports of […]
Australian state leader calls for timeline on Adani coal mine approvals
Melbourne: Australia’s Queensland state premier on Wednesday called for India’s Adani Enterprises to sit down with the state regulator to work out a definitive timeline to obtain approvals for a controversial coal mine project in the state. Premier Anna Palaszczuk said the community required certainty on the long-delayed Carmichael mine’s outlook, and was tired of […]
India’s thermal coal output seen growing 4.3% annually till 2028: Report
New Delhi: Fitch Solutions on Tuesday said India’s thermal coal output is projected to grow at an average annual rate of 4.3% by 2028. “In absolute volume terms, China and India will have the largest impact on the global coal market balance,” Fitch Solutions Macro Research said in a report. It further said the surge […]
Rothschild withdraws from advising Adani on Australia coal project
Rothschild & Co has decided not to advise Adani in the financing or development of the $4 billion Carmichael coal mine in Queensland, Australia, a letter from the bank to an environmental group said. The bank is also not advising the firm on the planned sale of stake in the Abbot Point Coal export terminal, […]
Adani expects India coal imports to hit record
New Delhi: India’s thermal coal purchases are expected to surge to a record this year and remain robust through the next decade as domestic supply lags demand, according to the country’s largest importer. Overseas shipments will climb almost 11% to 184 million metric tons during the financial year started April 1, and rise further to […]
Adani 2 approvals away from starting construction of Australia coal mine project
Mumbai: Billionaire Gautam Adani’s controversial Australia coal mine project moved a step closer to securing permission for starting construction, with the nation’s federal government approving its groundwater management plan on Tuesday. With this, Adani now needs just two more approvals from Queensland state—one, the groundwater management plan, and two, a plan to protect an endangered […]
Coal import rises 8% to 212 MT in April-February FY19
New Delhi: India’s coal import increased by 7.8% to 212.11 million tonnes in the April-February period of FY19, a report said. This comes at a time when the government is looking at relaxing the timeline for the 1 billion tonne coal production target it had set earlier for Coal India (CIL), which accounts for over […]
CIL breaches 600 million tonne mark in production, off-take
Kolkata: Coal India Ltd (CIL) on Monday said it has, for the first time, breached the 600 million tonne (MT)-mark in its production and off-take, clocking a 7% and 4.8% growth, respectively, during 2018-19 fiscal but missed the annual targets on both fronts marginally. Ahead of summer, the miner, however, claimed there is “sufficient coal […]
Coal stock rises at thermal power plants, but will it be enough?
Coal inventory has been on the rise at thermal power plants. This improved from six days of consumption equivalent in October 2018 to 16 days in February 2019. As on 18 March 2019, it had inched up to 17 days, shows data from the Central Electricity Authority (CEA). The recovery is notable, despite the inventory […]
Coal India’s spark diminishes further as dividend payout disappoints
Dividends have always been Coal India Ltd’s strong suit. This year, however, isn’t looking bright for investors on this count. The company’s interim dividend of ₹5.85 per share, announced last week, is lower than the Street’s expectations. With this, the coal producer’s cumulative dividend so far for this fiscal year stands at ₹13.1 per share. […]
Adani Enterprises could wait up to two years for Australia mine approval
NEW DELHI: Adani Enterprises might have to wait up to two years to get two environmental approvals to start construction at its controversial Carmichael coal mine in Australia, a Queensland government official told Reuters. Adani said in November that it would fund the mine and rail project itself, requiring the company to cut the initial […]