India's coal imports for the entire financial year 2014 are likely to grow a subdued 3.4 per cent to 150 mt, a stark contrast to the 42 per cent growth registered in 2012-13. The sharp drop in coal imports is due to rupee's depreciation, as well as a slump in demand. These two factors offset the impact of depressed global prices.
Category: Coal & Mining
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Coal imports to rise 3.4 per cent in FY14
India's coal imports for the entire financial year 2014 are likely to grow a subdued 3.4 per cent to 150 mt, a stark contrast to the 42 per cent growth registered in 2012-13. The sharp drop in coal imports is due to rupee's depreciation, as well as a slump in demand. These two factors offset the impact of depressed global prices.
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Penal action on neglected mines
The Centre has decided to invoke bank guarantee partially on UCM Coal Company Limited, a joint venture of Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL), Chhattisgarh Mineral Development Corporation (CMDC) and Maharashtra Power Generation Company (MAHAGENCO), for delay in development of two Chhendipada coal blocks. However, the inter-ministerial group (IMG) did not favour de-allocation of the coal blocks at this stage.
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Penal action on neglected mines
The Centre has decided to invoke bank guarantee partially on UCM Coal Company Limited, a joint venture of Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL), Chhattisgarh Mineral Development Corporation (CMDC) and Maharashtra Power Generation Company (MAHAGENCO), for delay in development of two Chhendipada coal blocks. However, the inter-ministerial group (IMG) did not favour de-allocation of the coal blocks at this stage.
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IMG to scrap 30 captive coal blocks
An inter-ministerial group (IMG) tasked with suggesting punitive measures for holders idling their captive coal blocks has recommended cancellation of 30 mines, making it the single biggest de-allocation so far. Apart from several major firms, many smaller companies are now understood to be included in the list. In its two-day meeting recently, the panel considered the status of 61 captive blocks.
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NLC to buy coal mines abroad
Neyveli Lignite Corporation (NLC) would acquire coal mines abroad to fuel its power sector expansion plans in the country. In this regard, the company has got request for partnership from miners in Asia and Africa. The company wants to work in a JV with the overseas partners to source coal to India, according to B Surender Mohan, Chairman and Managing director, NLC.
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Cabinet note on coal for captive plants
The Planning Commission has circulated a Cabinet note seeking to implement the recommendations of the BK Chaturvedi Committee to ensure coal supply for captive power plants (CPPs). The note for consideration of the Cabinet Committee on Investment (CCI) suggests that the Coal Ministry sign initial pacts as envisaged to provide coal to consumers, including CPPs, which cannot be covered with letters of assurances or fuel supply agreements, Coal Ministry sources said.
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Galvanising growth
Dinesh Chandra Garg, well known for administrative acumen and astute leadership in mining industry in India, holds the post of Chairman-cum-Managing Director of Western Coalfields (WCL) since 1 May 2007.
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CIL achieves 3.2 per cent growth
Coal India (CIL) has produced 366.6 million tonne of coal in the first 10 months of 2013-14, fulfilling 75 per cent of its annual target, while clocking a 3.2 per cent growth rate. During these 10 months, while Eastern Coalfields, considered a laggard, clocked a 10.4 per cent growth rate, Western Coalfields went negative, mining an output which was 7.7 cent lower than the same period in 2012-13.
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Panel to review on coal linkages
An inter-ministerial panel will meet on 19 February to review the status of existing coal supply arrangements to the power and other sectors. The Cabinet Committee on Investment had earlier said timelines for signing fuel supply pacts for power projects of 78,000 MW capacity should be met.