Union government's data shows that IndiaĆās economy expanded 4.8 per cent in July-September, the fourth straight quarter of sub-5 per cent growth. The major drags for this were slower expansion of government-supported services and continued contraction in the country's mining sector.
Category: Coal & Mining
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Power cos violating coal block norms
Many private power companies in the country were violating the terms and conditions of coal block allocation, the Central Bureau of Investigation (CBI) under the jurisdiction of Supreme Court (SC) and the Union Power Ministry (MoP) have found in their probe. The Ministry suspects that these companies have no intention to sell power to discoms but want to sell it to industries or at exchanges at higher rates.
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Orissa plans rail corridor for Rampia coal block
The Orissa government will develop rail corridor facility in the Rampia coal block on the lines of the already planned common rail corridor for the Angul-Talcher-Chhendipada belt. The common rail corridor is proposed to be developed with equity participation from Odisha Industrial Infrastructure Development Corporation (Idco) and Mahanadi Coalfields (MCL).
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CIL production increases
In the last July-September quarter, Coal India (CIL) has achieved a 10.5 per cent growth in production to 98.5 million tonne against the same period last year. Supplies to consumer or offtake grew by
7.5 per cent to 109 mt. CIL reported 0.4 per cent growth in production and two per cent growth in offtake during April-June 2013.
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Orissa to pace up coal corridor
To expedite implementation of 143-km Angul-Chhendipada-Talcher common coal corridor taken up at an investment of Rs 8,000 crore, the Orissa government has anno-ĆĀ”un-ĆĀ”ced the formation of an eight-member committee, headed by the State Principal Secretary (Industries) Parag Gupta.
Odisha Industrial Infrastructure Development Corporation (IDCO) will implement the project.
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CILs divestment
Coal India (CIL) divestment is likely to be finalised in the next one or two months, says Union Coal Minister Prakash Jaiswal. The minister said the Cabinet will take a final call on divesting 5 per cent stake in the world's largest coal producer. The five per cent dilution will fetch nearly Rs 10,000 crore to government exchequer. The Union government currently holds 90 per cent stake in the world's largest coal producer CIL.
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surplus domestic coal Usage
The government-appointed committee is expected to come out with its recommendations soon on the usage of surplus domestic coal from captive mines. The committee is headed by the Planning Commission Member BK Chaturvedi. The Commission Deputy Chairman Montek Singh Ahluwalia said that the Chaturvedi-headed committee will come to a consensus quite quickly.
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MMD India to invest in Sri City
MMD Mining Machinery Developments in the UK has laid the foundation stone for its new production unit at Sri City Special Economic Zone in Andhra Pradesh. The company's Indian subsidiary MMD (India) to handle the production unit. The company will initially invest Rs 100 crore in this project and will offer employment to 200 people. The company offers mineral sizers, heavy duty apron plate feeders, caterpillar chains and rollers, and sizer stations.
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Sical wants to handle coal at Ennore port
Sical Logistics, a subsidiary of Bangalore-based Coffee Day, continues to explore opportunity to handle thermal coal at Ennore port as an alternative cargo for its iron ore terminal.
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Sales of NMDC up by 8% in April-September
In the first half year of this fiscal ended September 30, 2013, NMDC, the country's largest iron ore mining company, has reported a 8 per cent rise in sales of iron ore. The company has said it sold 13.75 million tonne of iron ore between April-September 2013, up from 12.72 million tonne in the same period last year.