NEW DELHI – Shipments of coking coal from the United States and Canada rose to a sixth of all Indian imports of the fuel during the year ended March 2019, as steelmakers in the coal guzzling country look to cut their dependence on Australia. Australia’s share in India’s coking coal market fell to 71%, or […]
Category: Coal
CIL to offer 21.5% more coal to power generators through forward e-auctions
KOLKATA: State-run Coal IndiaNSE -0.57 % has decided to offer 21.5% additional coal this fiscal to power generators through forward e-auctions, while it will reduce offerings in the spot auction market from 2018-19 level by almost 4%. A senior executive at the coal behemoth said the company will offer 33 million tonnes of coal through […]
Adani’s Australia mine project ready to go after getting final nod
MUMBAI: Billionaire Gautam Adani-led Adani Group can finally start work on its Carmichael coal mine project in Australia, as it has received the last of the approvals needed to commence work. The company’s Groundwater Dependent Ecosystems Management Plan for the project was approved by the Queensland state government, after much delays. This plan was approved […]
Adani wins final approval for long delayed Australian coal mine
Adani EnterprisesNSE -0.82 % on Thursday received the go-ahead to start construction of a controversial coal mine in outback Australia, after a state government approved a final permit on ground water management. Queensland’s Department of Environment and Science (DES) said in a statement it had approved Adani’s Groundwater Dependent Ecosystem Management Plan. Adani has said […]
CIL to hire merchant bankers for acquiring stakes in Australian coal assets
NEW DELHI: State-owned Coal IndiaNSE -1.17 % will hire merchant bankers to carry out financial due diligence for acquiring equity stakes in identified mines and companies in Australia as part of its plan to meet the growing dry fuel demand in the country. The state-run miner has identified coal assets in Australia for acquiring equity […]
Coal supply improved, govt steps eased power plants’ stress
NEW DELHI: Stress faced by coal-based power projects in India has eased significantly with an increase in electricity demand, improved coal availability and government initiatives, experts said. However, delayed payments by distribution companies continue to pose challenges to power producers. With continuity of RK Singh as the minister for power and renewable energy, the industry […]
SCCL aims for Rs 50,000 crore turnover
Singareni Collieries Company Limited (SCCL), a state-owned miner, is aiming to achieve Rs 50,000 crore turnover from the present Rs 26,000 crore in near future, a top official said Sunday. Speaking after taking part in Telangana Formation Day celebrations here, SCCL chairman and managing director N Sridhar urged employees to re-dedicate themselves to make Telangana […]
CIL’s output falls 1.1%, off-take 1.4% in May
Kolkata: Coal India (CIL) on Sunday said its production declined by 1.1 per cent to 46.59 million tonnes in May of the current financial year compared with 47.12 million tonnes in the year-ago month. Its off-take too fell marginally by 1.4 per cent to 52.09 million tonnes in April 2019-20 against 52.81 million tonnes in […]
CIL to offer 60-70 million tonnes coal in spot & forward auctions
Coal IndiaNSE 0.52 % will offer 60-70 million tonnes (MT) of coal in spot and forward auction markets this year. Despite being a little lower than last year’s offerings, premiums on auctions are expected to remain soft as the company has decided to increase contracted supplies and international coal prices have started to soften. The […]
Care Ratings: Coal imports to grow between 8% & 10%
Kolkata: Analysis firm Care RatingsNSE 0.17 % expects coal production to grow between 6% and 7% and imports to grow between 8% and 10% during 2019-20. “Coal production would improve on account of miners focusing on surface mining of coal instead of underground mining which would also help them in containing costs and improve productivity. […]
Coal Mines Provident Fund Organisation invites portfolio managers to handle its corpus
Kolkata: Coal Mines Provident Fund Organisation (CMPFO) has invited portfolio managers to handle its investible corpus, estimated at Rs 1.06 lakh crore, the commission for which is expected to be at least Rs 100 crore annually. It is one of the largest funds of its kind and the money belongs to coal workers. CMPFO is […]
Imports to halve as Coal India increases supplies to power plants
KOLKATA: Increased fuel supplies to power plants by Coal IndiaNSE 2.31 % may halve imports to 11 million tonnes this year, the power ministry has estimated. Power utilities that blend high energy coal from overseas market with low grade domestic variety, are being urged to substitute the imported part with high quality coal supplied by […]