The government has garnered about Rs 2,638 crore from buyback of shares of state-run Coal India Ltd, Parliament has been informed. CIL has bought back “7,88,42,816 shares from Government of India out of the total offer of 10,89,55,223 equity shares @ Rs 335 per equity shares.
Category: Coal & Mining
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Adani’s Carmichael coal mine in Australia secures water licence
Adani Australia's controversial $21-billion Carmichael coal mine has been granted an unlimited 60-year water license, in a move slammed by environmental and legal groups.
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Coal India misses annual production target by 44.48 million tonnes
Coal India has said that it has missed its annual production target by 44.48 million tonnes (MT) as it produced 554.13 MT of coal by the end of 2016-17 against a target of 598.61 MT.
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CCI slaps Rs 591-cr penalty on Coal India
The Competition Commission has imposed a fine of Rs 591 crore on Coal India for allegedly having discriminatory conditions in fuel supply pacts. Apart from directing the company to cease and desist from anti-competitive practices, the watchdog has ordered modification in the agreements.
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Government generates Rs 1,748 crore from auction of 31 coal mines
The government has generated revenue of Rs 17,47.70 crore from the auction of 31 coal blocks.
“The revenue generated till January, 2017 from the auction of 31 coal mines is Rs 17,47,72,47,706,” Coal and Power Minister Piyush Goyal said in a written reply to the Lok Sabha.
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High Court upholds decision to cancel JSPL coal block
The Delhi High Court has upheld the government's decision to reject winning bids submitted by Naveen Jindal-led Jindal Steel & Power Ltd for two coal blocks.
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Adani Enterprises wants to tap Australian fund for coal mine railway
Gautam Adani-led Adani Enterprises has applied for financing from an Australian infrastructure fund to build a rail line that is part of a $16-billion coal project in the state of Queensland, Australia's resources minister said, reports Reuters.
Financing from the A$5 billion Northern Australian Infrastructure Facility (NAIF) would offer a boost to Adani after some major banks said they would not participate in the controversial coal project.
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CIL may miss output target by 20 MT this fiscal
Coal India is likely to miss its production target by 20 million tonnes (MT) and may end up producing up to 578 MT this fiscal due to a host of issues, including evacuation and demand-supply, a top official has said.
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Mines auction to fetch states Rs 1.5 lakh crore in 2017-18
Mines auction is likely to add Rs 1.5 lakh crore to statesÂ’ kitty in 2017-18, Mines Secretary Arun Kumar has said. The first tranche of auctions, which started last year, saw bidding of 21 mine blocks that fetched Rs 73,000 crore to states.
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Coal India approves interim dividend of Rs 18.75 per share
Coal India has said that its Board has approved an interim dividend of Rs 18.75 per share for the 2016-17 financial year. The government is likely to get around Rs 9,200 crore from the total interim dividend payout.