The coal ministry is developing a logistics policy for the sector and a national coal evacuation plan with a view to reducing logistics costs, an official statement said on Saturday. An inter-ministerial meeting on logistics was held to review the progress of implementation of the national logistics policy, the statement said adding that it was […]
Category: Coal
Bill to amend offshore areas minerals law introduced in Lok Sabha amid Manipur protests
A bill to amend the offshore areas mineral law was introduced in Lok Sabha on Thursday amid opposition protests over the Manipur issue The bill was introduced by Union Minister of Parliamentary Affairs, Coal and Mines Pralhad Joshi when the House assembled at 2.00 pm after an adjournment over the Manipur situation. When Congress leader […]
Centre sets eyes on ramping up offshore mineral production with new bill
The centre on Thursday introduced a bill to tap India’s offshore mineral resources for developmental needs. The bill to amend the Offshore Areas Mineral (Development and Regulation) Act, 2002, introduced in the Lok Sabha, aims to establish a fair and transparent mechanism to allocate the operating rights for those engaged in offshore mineral extraction. According […]
Coal scam: Delhi court sentences former MP Vijay Darda to 4 years imprisonment
Delhi’s Special Court on Wednesday sentenced former Rajya Sabha MP Vijay Darda to four years imprisonment in a case related to irregularities in the allocation of a coal block in Chhattisgarh. The court also announced three years imprisonment for ex-Coal Secretary H C Gupta, two senior public servants KS Kropha and KC Samria in the […]
India’s coal production grows 8.55 pc to 223 MT in Apr-Jun: Coal Ministry
India’s coal production increased by 8.55 per cent to 223.36 million tonnes in the April-June quarter of 2023-24 compared to the year-ago period, an official statement said on Friday. Coal production was 205.76 million tonnes (MT) in the same period during FY 2022-23, the Ministry of Coal said. Coal India Limited (CIL) registered 175.48 MT […]
India’s coal mining bet stumbles as wary banks weigh rising risks
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned mines, though most lenders remain far from ditching fossil fuels for good, analysts and officials said. Of the 87 mines auctioned to private companies in the past three years in a push called […]
On Hindenburg, Adani evokes ‘matrubhumi’, flaunts spunk and success
Narrating the journey of his own group as well as India’s economy and the great potential both of these hold, Gautam Adani, the chairman of Adani Group, evoked the motherland while speaking at the AGM of the group. The centerpiece of Adani’s speech was his emphasis on how the group has recovered from the Hindenburg […]
Overall coal stock position in India grows 34 per cent to 103 MT: Coal ministry
The overall coal stock position in the country rose 34 per cent to 103 million tonnes (MT) on July 16, an official statement said on Tuesday. As on July 16, 2023, thermal power plant coal stock stands at 33.46 MT, which is 28 per cent higher compared to the corresponding period of last financial year, […]
Adani raises Rs 1,250 cr through first bond sale since Hindenburg report
Billionaire Gautam Adani’s flagship firm has raised Rs 1,250 crore through a local-currency bond sale, the first since US short seller’s scathing report that sparked a rout in the group’s securities. In a stock exchange filing, Adani Enterprises Ltd said it has raised Rs 1,250 crore “by allotment of 1,25,000 secured, unrated, unlisted, redeemable, non-convertible […]
Green move: South Eastern Coalfields plans Rs 1,218 crore investment to set up solar projects
As part of its net zero commitments, Chhattisgarh-based mining company SECL has lined up an investment of Rs 1,218 crore spread up to financial year 2025-26 for setting up solar projects. South Eastern Coalfields Ltd (SECL), with 67 blocks, is among the top three coal producing subsidiaries of Coal India Ltd (CIL), under the Ministry […]
Adani Saga: Sebi defends 2019 rule change on offshore investors
India’s markets watchdog has told the Supreme Court its 2019 change in rules on how offshore funds report their ownership did not make it tougher to identify their beneficiaries, its legal filing shows. The change in rules was cited as one factor by a Supreme Court-appointed committee that made it difficult for the Securities and […]
Meeting 780 MT production target, supply to power sector top priority in FY24: Coal India Chairman
Coal India Ltd (CIL) will work on priority to meet the 780 MT production target for FY24, its new Chairman PM Prasad said on Saturday. Prasad took charge as the Chairman of the mining giant on July 1. He succeeds Pramod Agrawal, who superannuated on June 30, 2023. “Underlining his priority, the chairman said CIL […]