New Delhi, Mar 10 () The Centre has cancelled the sixth and seventh rounds of coal mines auction under which it was planning to put on sale 19 blocks. The coal ministry in a notice to the bidders said that “the 6th Tranche and 7th Tranche of auction stands cancelled.” However, the government did not […]
Category: Coal
Government cancels coal auction meant for open market sale
KOLKATA: The government has cancelled the proposed auction of coal blocks in which winners would have been allowed to sell 25% of the production in the open market. It was postponed five times after notice inviting tenders were issued in November. Official sources said there re was some discrepancy between the tender documents, which led […]
Second heavily decomposed body brought out of rat-hole mine in Meghalaya
SHILLONG: The heavily decomposed body of an unidentified miner has been retrieved from a 370 ft illegal rat-hole mine in Meghalaya’s East Jaintia Hills district, 77 days after 15 men got trapped inside the flooded coal quarry, an official said. According to the official, the body, located 200 ft away from the bottom of the […]
Months of coal stock deficit ends as power plants report healthy volumes
KOLKATA: Coal stocks at power plants and mine pitheads have risen to a total of 60 million tonnes, enough to generate electricity for 36 days, ending scarcity that lasted several months. Power sector executives say lower demand in recent winter months helped reduce fuel consumption, which increased stocks. Power plants now have stocks to run […]
Coal India to reopen mines to increase output, generate local jobs
Kolkata: Coal IndiaNSE 0.99 % (CIL) has decided to reopen a number of mines that were closed earlier due to safety or viability issues. It is an endeavour to generate local employment and increase production of higher grade of coal. Subsidiaries such as Central Coalfields — which had closed three mines — and Bharat Coking […]
Buy Coal India, target Rs 230: Manas Jaiswal
Manas Jaiswal of manasjaiswal.com has a buy call on Coal India Ltd.NSE 1.64 % with a target price of Rs 230. The current market price of Coal India Ltd. is Rs 220.5. Time period given by the analyst is Intra Day when Coal India Ltd. price can reach the defined target. Manas Jaiswal recommended to […]
Prices soar 53% after CIL diverts coal to power companies
Kolkata: Coal India’s e-auction prices rose about 53% in the December quarter, when the company offered half the quantity it did a year ago after diverting supplies to power plants. It offered 14.65 million tonnes of coal during the quarter against 30.8 million tonnes a year earlier. As a result, average prices rose to Rs […]
India’s coal power plants ‘unhealthiest’ in world: Study
GENEVA: China and the US may be the largest producers of coal power, but power plants in India take the highest toll in the world when it comes to health, a global study claims. Coal-fired power plants produce more than just carbon dioxide, which contributes to global warming, said researchers from ETH Zurich in Switzerland. […]
Glencore plans to cap coal output in climate shift
Melbourne: One of the world’s biggest sellers of coal is yielding to investor pressure on climate change, the clearest sign yet that movement is sweeping the natural resources industry. In a surprise announcement, Glencore Plc promised to limit coal production as part of a broader move to align the business with Paris climate targets. The […]
Government allows sale of 25% coal from captive mines in open market
NE DELHI: Union cabinet on Tuesday approved sale of 25% of coal production from captive mines in open market with payment of additional premium on such sale. The cabinet committee on economic affairs has approved the methodology for allowing allocation of coal mines for specified end use or own consumption to sell 25% of actual […]
Not invited to bid, power firms may sue Coal India
Kolkata: Power companies that participated in an auction for long-term fuel supply contracts may sue Coal IndiaNSE 0.42 % for holding another round of auction and not allowing them to bid. Coal India executives, however, said the second auction would help the stressed power plants that could not participate last time for reasons beyond their […]
India’s coal import rises 5% to 190 MT in April-January
Coal imports increased by 5.1 per cent to 189.9 million tonnes (MT) in the April-January period of the ongoing fiscal, according to a report. Coal imports were at 180.61 (MT) in the April-January period of the previous fiscal, the report by mjunction services showed. mjunction, a joint venture between Tata SteelNSE 0.87 % and SAILNSE […]