Coal India targets more than 8 per cent growth in production at 660 million tonnes in 2019-20 compared to 607 million tonnes in the last fiscal and plans a capital expenditure of Rs 10,000 crore in the current fiscal, according to sources.
Coal India recorded a 44 per cent rise in 2018-19 e-auction prices, up from 20 per cent a year ago, thanks to a spurt in demand and higher international rates.
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.
By mid-June, if everything goes as expected, Adani Australia will receive the final environmental approvals for its proposed Carmichael coal mine and rail line development. Newspaper reports based on briefings from Adani suggest that, once the approvals are in place
Industry body Association of Power Producers (APP) has shot off a letter to state-run Coal India seeking increase in supply of the dry fuel from Korba area in Chhattisgarh through rail wagons, to help power generating firms reduce transportation cost and cut tariffs for end-consumers.
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.
Power generating companies have asked state-run Coal India to increase the supply of the dry fuel from Korba area in Chhattisgarh through rail wagons to help them reduce transportation cost as well as tariffs for end-consumers.
India’s move to acquire reserves of strategic minerals like lithium and cobalt to power the country’s move into electric vehicles is all set to become a reality with three state-owned metal and mining companies due to ink a joint venture agreement early next month.
Indian energy giant Adani won a key approval from the Queensland state government of Australia on Friday to protect the endangered black-throated finch bird population as part of its crucial environmental plan at the site of its proposed billion dollar mine project.
State-owned Coal India Limited (CIL) concluded financial year 2018-19 with a whopping 148 per cent growth in consolidated net profit at Rs 17,462.18 crore. The country’s largest coal mining company had posted consolidated net profit of Rs 7,038.44 crore in the financial year 2017-18.