Coal India, the state-owned monolith that produces almost all of the country’s coal, sees a slowdown coming, according to an internal prognosis.
Hundreds of workers at a South African coal mine owned by the Guptas, a family closely associated with ex-president Jacob Zuma, have gone on strike over uncertainty about the company’s future.
Caught between logistical bottlenecks and surging demand from power plants, India will likely increase coal imports in 2018, industry executives said, in what would be a setback to the government’s plans to cut the country’s dependence on foreign supplies.
Nearly 44 years after India nationalised its coal sector, the industry has been thrown open for participation by private players, in a move that would bring in competition for state-owned Coal India (CIL), which has till now enjoyed a monopoly over the business.
The remaining 90 million t of the sector’s demand will come from Singareni Collieries and captive coal blocks, Coal India executives said.
In a rare instance, Directorate of Revenue Intelligence investigating the Rs 29,000 crore coal import scam involving several companies has filed an application before the Customs, Central Excise and Service Tax Tribunal seeking recusal of a member hearing the appeal filed by one of the companies.
The Enforcement Directorate has provisionally attached properties worth about Rs 3.5 crore of Gaurav Rathi of Rathi Super Steel Ltd in a Coal block allocation scam.
At a time when the Central government is battling the problem of low coal stocks in over 50 power plants in the country, a study by Coal India Ltd (CIL) has listed out the headwinds impacting the coal sector.
It was always obvious that Donald Trump would never be able to keep his promise – made both as candidate and president – that he would bring coal jobs back to battered mining communities.
Coal India would produce 513 million tonnes of coal in 2018-19 and offer 12 million tonnes via e-auction to meet the power sector’s demand.