Winners of producing coal blocks will have one month to apply for statutory permissions for transfer of the blocks in their names or face a deduction in the performance bank guarantee, according to a Coal Ministry timeline. Deviation from the mining plan of such blocks would need to be submitted within four months and approved within 10 months.
Category: Coal & Mining
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IL targeting 10% total sales via e-auction
The Centre has allowed Coal India to revert to the old system, removing the cap on e-auction volumes with effect from April 2015
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Coal Mines Bill gets Parliament nod
With the passing of the Coal Mines (Special Provisions) Bill 2015 by the Rajya Sabha, the Bill gets the approval of the Parliament. Earlier, the Lok Sabha had passed this Bill on March 4, 2015.
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Coal auction proceeds to cross Rs.2 lakh crore
Proceeds from the ongoing coal block auctions are likely to cross Rs 2 lakh crore, surpassing CAGĂ´s estimate of Rs 1.86 lakh crore loss on account of the allocation of blocks without auction during the UPA regime.
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Coal India Q3 profit down 16.2% to Rs.3,262.49 crore
Coal India LtdĂ´s net profit in the quarter ended 31 December declined 16.2 per cent to Rs 3,262.49 crore compared with the year-ago period as the national miner sold less coal through electronic auctions in order to meet domestic power sector demand as directed by the Coal Ministry.
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Ă´Impose higher carbon tax on petrol products & coalĂ´
The economic survey has hinted at higher carbon taxation on petroleum products and coal to gain a footing at the year-end climate change dialogue in Paris. The survey highlighted the need and scope for rationalizing coal and petroleum prices and making them equivalent to international prices.
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Rail projects to transport coal
The Union Coal Ministry will uplift railway infrastructure in Talcher and Ib Valley for coal transportation in order to double production of Mahanadi Coalfields Limited (MCL) in the next five years.
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Imported coal to play major role
Lesser allocation of mines to steel, cement and captive power plants in the coal blocks auction may increase their dependence on costlier imported fuel, says rating agency ICRA.
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Rs.1 lakh-crore orders soon for power, mining equipment
The power and coal sectors will shortly issue orders worth over Rs 1 lakh crore for various projects, including four new giant power projects, according to Piyush Goyal, Union Minister of Coal, Power and Renewable Energy.
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Coal Ministry to settle project related issues
The Coal Ministry has informed the PMO that it is making all efforts to resolve the issues related to various mining projects at the Central as well as State level. The Ministry said it has also set up a portal on the lines of Project Monitoring Group to monitor the progress of mines.