First Auction with One Year Contract on Coal without Specified End User Coming Soon: Piyush Goyal

Cutting down on India’s coal imports thereby savings billions of dollars of forex outgo every year, state-owned Coal India has sufficiently ramped up coal production and is currently sitting in a surplus state. Most thermal power plants in India have atleast a 20-25 days of coal surplus from a situation of coal shortages or critical coal stocks at power plants.

First Auction with One Year Contract on Coal without Specified End User Coming Soon: Piyush Goyal

The government will soon do the first auction of a one year contract on coal which will not be linked to any end use requirement. This according to union minister for power, coal, RE and mines, Piyush Goyal will be the government’s first step towards commercial availability of coal.

Coal Tops The Chart of Minerals Production During June 2016

The total value of mineral production (excluding atomic & minor minerals) in the country during June 2016 was Rs 18344 crore.

Coal Tops The Chart of Minerals Production During June 2016

The contribution of Coal was the highest at Rs. 7171 crore (39%). Next in the order of importance were: Petroleum (crude) Rs. 5393 crore, Natural gas (utilized) Rs. 2077 crore, Iron ore Rs. 1802 crore, Limestone Rs. 584 crore and Lignite Rs.517 crore. These six minerals together contributed about 96% of the total value of mineral production in June 2016.

India’s Mineral Production during May 2016 Up 1.2% Against May 2015 (Provisional)

India’s Mineral Production during May 2016 Up 1.2% Against May 2015 (Provisional)

The contribution of Coal was the highest at Rs. 7423 crore (39%). Next in the order of importance were: Petroleum (crude) Rs. 5595 crore, Natural gas (utilized) Rs. 2122 crore, Iron ore Rs. 1968 crore, Limestone Rs. 545 crore and Lignite Rs.406 crore. These six minerals together contributed about 96% of the total value of mineral production in May 2016.