CIL

The state-owned miner needs to raise prices but it is caught between the political constraints on its major buyer, electricity producers and close decision-making control by the coal and power

State-owned Coal India Ltd (CIL) on Wednesday said it is aiming to supply 610 million tonne coal to power plants in the current fiscal. In the just concluded financial year 2022-23, the miner supplied a record 586.6 million tonne (MT) dry fuel to coal-fired power plants. "CIL supply to the power sector is pegged at 610 MT to meet the demand of coal fired plants in 2023-24. This is 23.4 MT more or 4 per cent higher than the record 586.6 MT supplied in FY23," the company said in a statement. In the wake of forecasts that a hot summer may push up coal demand, CIL said it is gearing itself to meet the requirement on the back of adequate coal stocks at its pitheads and increased production in the first quarter of FY24. In FY23, CIL surpassed its target of 700 MT for the fiscal and produced 703.20 MT of coal, 13 per cent higher from 622.63 MT in 2021-22. "With increasing production and adequate coal stock of 69 MT at our pitheads, we aim to meet the projected target with our best shot a

While Street is divided, positives include robust demand, e-auction volumes

Coal India Chairman Pramod Agrawal on Monday said there is a "strong case" for increasing coal prices, and the hike could be effected "very soon" as discussions are underway with stakeholders. Agrawal also said he is confident the mining behemoth will achieve its production target of 1 billion tonnes by 2025-26. "There is a strong case for increasing coal prices, as that has not happened in the last five-odd years. This year, the wage negotiation has taken place as well, which will have an impact on CIL's financial condition, especially for a few subsidiaries where the manpower cost is very high. "There will be a lot of problems if prices are not hiked. Discussions are underway with stakeholders... It will happen very soon," Agrawal said at the Indian Coal Markets Conference here organized by Mjunction. Elaborating on the 1 billion tonne production target, he said though CIL is on course to achieve this by 2025-26, it will depend on factors like the need of the country and the grow

State-owned Coal India Ltd on Tuesday reported a 70.1 per cent rise in consolidated net profit at Rs 7,755.5 crore for the quarter ended December 2022 on the back of higher sales. The company had posted consolidated net profit of Rs 4,558.3 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing. The consolidated sales of the company during the October-December period increased to Rs 32,429.46 crore, over Rs 25,990.97 crore a year ago. In a statement, the PSU said the steep rise in profit came on the back of higher add-on over the notified price in e-auction sale of 14.65 million tonnes coal during the third quarter of FY23. Though auction volumes were lower by 44 per cent in the third quarter of current fiscal, compared to 26 million tonnes of similar quarter FY22, higher premiums under the e-window helped CIL in cranking up sales by Rs 2,341 crore. The realisation per tonne of coal was Rs 5,046 under auction segment, in the third quarter against Rs 1,947 p

The Indian coal ministry expects Coal India to surpass its production target of 700 mln tonnes fixed for the current fiscal

State-owned Coal India Limited (CIL) and trade unions have agreed to a 19 per cent minimum guaranteed benefit of the monthly emolument, benefitting 2.38 lakh non-executive workers, an official statement said on Wednesday. In this regard, "CIL and the four central trade unions BMS, HMS, AITUC and CITU have inked a Memorandum of Understanding (MoU), recommending 19 per cent Minimum Guaranteed Benefit (MGB) for 2.38 lakh non-executive employees as part of the ongoing National Coal Wage Agreement XI (NCWA-XI)," Ministry of Coal said in a statement. The MoU between CIL and trade unions was signed in Kolkata on Tuesday. The MGB of 19 per cent is on the emoluments as of June 30, 2021, which include basic pay, variable dearness allowance, special dearness allowance and attendance bonus. The Telangana-based Singareni Collieries Company Limited (SCCL) was also the other signatory to the MoU. "A total of around 2.82 lakh employees of both the state-owned coal entities, CIL and SCCL, who were

The Centre on Monday said an additional 19 first mile connectivity projects of state-owned CIL and SCCL will be implemented by 2026-27. First mile connectivity refers to the transportation of coal from pitheads to dispatch points. "The Ministry of Coal will be taking up additional 19 First Mile Connectivity (FMC) projects for Coal India Ltd (CIL) and Singareni Collieries Company Ltd (SCCL) with a capacity of 330 million tonnes (MT) and these projects will be implemented by FY26-27," the ministry said in a statement. The ministry has already undertaken 55 first mile connectivity projects worth Rs 18,000 crore. Out these 55 projects, eight having a capacity of 95.5 million tonnes per annum (MTPA) have been commissioned and the remaining will be commissioned by FY25. To ensure efficient and environment-friendly coal evacuation, the government is working on the development of the National Coal Logistic Plan, including first mile connectivity through railway sidings near coal mines and

CIL has set a target of 700 million tonnes (MT) for FY23

Coal India Ltd on Wednesday said its capital expenditure grew 33 per cent to Rs 7,027 crore in April-September FY23 as compared to the year-ago period. The company's capex in the year-ago period stood at Rs 5,300 crore. The two coal evacuation infrastructure heads - setting up of coal handling plants (CHP)/silos and railways lines - together accounted for 36 per cent or Rs 2,547 crore of the total capex in the period under review, CIL said in a statement. "Capex push is essential for long-term growth prospects. To align the increasing production with robust transportation logistics, CIL is fast-tracking the development of its coal evacuation system. This would help in handling the seamless movement of coal in future," a senior executive of the PSU said. Construction of CHPs/silos under first mile connectivity was the major capex head at Rs 1,489 crore during the six-month period of FY23, as compared to Rs 614 crore a year ago. This affirms the company's intention to put in place

CIL will achieve 1 billion tonne coal production target by 2025-26 as against the earlier timeline of 2023-24 in view of the COVID-19 pandemic, Union Minister Pralhad Joshi said on Wednesday. Coal India Ltd (CIL) accounts for over 80 per cent of the domestic coal output. "Due to COVID our earlier target has been postponed. We will fulfil our dream of one billion tonne and we will be aatmanirbhar in thermal coal...By 2025-26, Coal India will produce one billion tonne," Joshi said on the sidelines of a function here. CIL was earlier eying 1 billion tonne coal production by 2023-24. Replying to a question, he said as far as thermal power plants are concerned, there is an average coal stock of 24 million tonne and day-to-day stock of the fossil fuel is adding. "Our plan is to keep at least 40 million tonne of coal as far as March 31 is concerned," he said. Coal output by CIL in current financial year is expected to be 700 MT and there would be additional output of 200 MT from othe

It is not just that state-owned company leadership are paid much less than what their smaller competitors are paid but their performance is not linked to rewards

Coal India Ltd chairman Pramod Agrawal on Tuesday said the miner has not raised prices of the dry fuel in the last four years to ensure its supply at competitive prices to consumers compared to the international market. He also said that the CIL is trying to list subsidiaries Bharat Coking Coal Ltd (BCCL) and Central Mine Planning and Design Institute (CMPDI) but asserted that there was no question of demerging them. The company has a total of eight subsidiaries. Addressing shareholders at the company's 48th AGM, Agrawal said that the CIL is committed to increasing its production and supplies to the mandated levels to ensure that the country gets power at a "just" price. Coal India meets 80 per cent of the country's dry fuel requirement. At a time when international coal prices are much higher, Coal India continues to supply its coal to Indian consumers at highly competitive prices, with no price increase over the last four years," Agrawal said in his address. Later replying to .

With regards to commercial mining, coal minister Pralhad Joshi said 43 mines have been awarded during the last two years and that they will generate employment for nearly 32,000 people

NTPC and Coal India had awarded import contracts to Adani

After long power outages owing to coal shortages over two years, the government and its principal producer have drawn up an integrated plan to preclude the annual seasonal supply dislocations

Coal ministry proposes PLI for ammonium nitrate to raise volumes and price competitiveness

The Union coal ministry is confident that till September-end, there will be 9-10 days of coal stock at the power units

The Indonesian company quoted Rs 4,331 crore for the eastern coast tender and Rs 4,497 crore for the west coast.

The country's largest domestic supplier has been appointed a quasi-canalising agency for sourcing overseas supplies