Page 26 - Coal India

Better days ahead for Coal India on closure of unviable mines

Improving realisations, closure of unviable mines to drive earnings

Coal India allotted 11 new mines in Odisha, Jharkhand, Bihar: Piyush Goyal

Of the 11 mines, five are deallocated blocks and six are fresh mines

Significant competition ahead from pvt sector: CIL chairman Gopal Singh

The company has set a 600-million tonne coal production target for 2017-18

Coal India to adopt new billing mechanism for consumers from FY19

The world's largest coal miner, Coal India, will be shifting its billing mechanism for the consumers in-line with the global trend from the coming fiscal year. As per the plan, the sales bills would be raised based on the actual consumption of the gross calorific value (GCV) which is expressed as kilo calorie per kg of coal.Currently, the consumers are charged based on the coal grade. Under the prevalent system, a GCV range is decided for a certain grade of coal and prices are fixed as per the grade. But, under the new system, the consumer will pay exactly for the GCV he/she is consuming.At present, around 17 such grades with variable GCV ranges are in vogue.As per a Coal India official, the current pricing mechanism for a particular grade is based on the mid-point of the GCV range and is priced accordingly. However, under the revision it will be done away with.To ensure the same, Coal India will be introducing third party sampling of all despatches including auctioned coal. Based on .

Coal India ups non-coking coal prices, expects to earn Rs 64 bn in Q4

Following the revision of wages of around 300,000 workers in the company, it faces an outgo of an estimated near Rs 60 billion

Coal India up 5% on hike in non-coking coal prices

The stock surges 5% to Rs 303 on BSE in early morning trade after the company said its board approved revision of non-coking coal prices with effective from Tuesday, January 9, 2018.

Coal India auction to miss spark on low power demand Q4 of FY18

After 76% rise in Q3, prices may fall in Q4

Coal India annual production target kept at 630 mn tonnes in FY19: Centre

CIL has identified mines with a production capacity of 908 million tonnes so far

CIL might suffer setback in Q4 e-auctions due to muted power sector demand

After a 76 per cent increase over the average notified price in the e-auctions during October-December last year, Coal India might see auction prices falling as demand from the power sector is expected to remain muted in the fourth quarter (Q4) of the current fiscal year.Analysts are of the view that power demand usually declines in the winters and with Coal India stepping up its sales, the country's power generators would be returning to near-normalcy latest by mid-February."In turn, this is going to affect demand from the power sector in the e-auctions", an analyst from Motilal Oswal said.In November 2017, despatches to the power sector rose by 9.1 per cent to touch 40.9 million tonne (mt) against the despatch of 37.6 mt in the year-ago period. Backed by robust demand from this sector, special forward e-auction prices rose by 35 per cent over the notified prices of the coal grades in November while for the Q1-3 period, the increase over notified price stood at 25 per cent.As per ...

Coal India ups production; stocks in power plants to ease by January

Availability of coal stocks with the country's thermal power plants is expected to normalise to a large extent by mid-January as state owned Coal India Ltd (CIL) has been able to step up production and debottleneck its supply network to a large extent after freeing up the railway rakes.Senior company officials told Business Standard that while previously the company's average daily production stood at 1.4 million tonne (mt) a day, they were able to scale it up to 1.8 mt a day and in the next few days, daily production would touch 2 mt a day."However, the target is to despatch over 2 mt coal a day so that we are able to sell over 600 mt of coal annually", a senior CIL official told this newspaper.As per the official, CIL's average rake loading has been hovering around 247-250 rakes a day which ensured that CIL is able to despatch bulk quantity of coal to power plants which are outside the pithead area.The coal stock situation in the country's thermal generators has started showing ...

Coal India to leverage mining expertise for diversification: Centre

Coal India, which accounts for over 80 per cent of the domestic coal production, is eyeing 1 billion tonnes output by 2019-20

Petcoke ban, an opportunity for Coal India

With petcoke and furnace oil use banned in states of Rajasthan, Uttar Pradesh and Haryana and as other states may follow, concerns for cement manufacturers is likely to remain elevated. But, it is a blessing in disguise for India's largest coal producer, Coal India. The ban comes at a time when fuel costs are on the rise, and will see further increase with petcoke being banned. Since coal linkages are not easily available, among the few options for companies will be to source coal from e-auctions. Linkage coal is visibly cheaper than one sourced from e-auctions, while both are not cost-efficient compared to petcoke. Landed cost of imported coal work out to be 35-40 per cent higher than petcoke prices, highlights Tina Virmani of Kotak Securities. Binod Modi of Reliance Securities feels that considering 20-25 per cent cost difference between imported petcoke and coal costs, the per tonne costs of making cement can increase by Rs 50-150.Nevertheless, as cement companies try to source ...

Coal India staff protest against pay disparity on WhatsApp, Twitter

A Coal India official said ONGC employees were getting better pay than Coal India as ONGC revised its wages in 2007

Coal India posts Rs 369 cr net profit in Q2

Average price realisation from e-auction and long-term fuel supply agreements also remained firm

Coal ministry prioritises turning Coal India into a 'clean' company

In its quest to emerge as a cleaner company, the coal ministry has prioritized development and adoption of clean coal technologies like coal to liquid, coal to polychemicals and others besides other priorities.A statement issued by Coal India, quoted coal secretary Susheel Kumar, as stating that the ministry has emphasized on environmental management and responsible mining, quality of the product and safety of the labourers working in the mines as the other priority areas for the company.The official was in the city to attend the 43rd Foundation Day of Coal India.The statement issued noted that the grade slippage between promised quality and delivered quality, which has been one of the key concerns of the coal consumers across segments, will be dealt with while the company will also ensure that environmental norms and workers' safety procedures are followed diligently. Optimistic about Coal India generating better profits in the future as coal demand goes up, Kumar said that Coal ...

Odisha sends show cause notice to Coal India's MCL to recover Rs 20,000 cr

The Odisha government has sent a showcause notice to Coal India Ltd (CIL) subsidiary Mahanadi Coalfields Ltd (MCL) for excess coal production between 2000-01 and 2010-11.The notice is viewed as a precursor to the state government recovering cost of excess production calculated at about Rs 20,000 crore. The notice is served on 27 coal mines in MCL's command area."We have despatched a notice to MCL to showcause. The state government would invite MCL authorities for a hearing by the end of this month. Later, a demand notice would be sent to realise cost of excess production", said a state government official.An MCL source said the company was yet to receive any letter and could comment only after reviewing the government notice.The state government is issuing notices to extract cost of minerals raised in excess of the limits set under environment clearance, mining plan endorsed by Indian Bureau of Mines (IBM), consent to operate awarded by the State Pollution Control Board (SPCB) and .

Coal reserves down at power plants despite CIL raising output

Coal India accounts for a little over 80% of thermal coal sales in the country

Coal India may consider price hike if unable to contain operational costs

Faced with the burden of an additional cash outflow of atleast Rs. 5,600 every year on account of wage revision, Coal India may eventually hike coal prices to maintain its profit margin. It may happen in case the Maharatna company is not able to curtail its operating costs.Although an immediate price hike isn't under consideration, senior company officials are of the view that first, they need to curtail operating short-term and mid-term costs like closure of loss making mines, offering voluntary retirement scheme to curtail direct employees and opt for mine mechanisation."Eventually, if these doesn't help to maintain margins and in case global coal prices starts going up to touch, say, $ 100 a tonne, we may have to opt for a price correction", a senior company official told Business Standard.After a prolonged sluggish period, coal prices are currently hovering around $ 91 a tonne.Wages and other employee benefit expenses account for 48 per cent of the total cost overhead of the ...

Coal India plans for a liberalised regime

More focus on long-term supply and diversification

INTUC calls for strike at Coal India

With the bonus declaration of Rs. 57,000 per worker falling short of its expectations, the Congress supported INTUC trade union, Indian National Mineworkers' Federation (INMWF) has served a three-day strike notice to Coal India beginning November 6, 2017.INMWF was expecting a minimum bonus of Rs. 60,000 for each of the workers while the amount agreed between the four other unions and the company management is shorter by Rs. 3,000 of INTUC's expectations. S. Q. Zama, secretary general at INMWF said that apart from his union's disappointment with the bonus payment, the union is also protesting against the clauses Coal India has put forward to the five Central Trade Unions which ranges from not offering employment to the family of the worker in case of death or disablement, keeping the mines open for the entire week (thereby doing away with the compulsory rest day on Sunday) and other clauses.As many as 12 issues in the charter of demands has been served to the company as well as the ...