Year 2013-14 was probably the most chaotic environment for mining sector as the so-called "coalgate" scam continued to haunt the industry and many coal blocks at in a danger of being deallocated. Inordinate delays in clearances further dragged the mining sector backward.
Tag: Coal India
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CIL to earn Rs.2,119 cr more via price revision
On account of revision in dry fuel prices, Coal India (CIL) is likely to get an extra revenue of Rs 2,119 crore in this fiscal. CIL has revised and rationalised the basic notified prices of all the grades of non-coking coal except GI, G2 and G5. The estimated additional revenue due to revision of basic notified price for the current financial year is Rs 2,119 crore.
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Govt says coal demand may not exceed 60,000 mw capacity
The Union Coal Ministry has told the Coal India (CIL) that the requirement of coal under the fuel supply agreements would not be for more than 60,000 mw by 2015 due to various reasons, including slippages in the schedule for commissioning of projects.
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CPSUs the cash machines
As the government prepares to divest PSUs and raise Rs 54,000 crore, it will simultaneously urge PSUs to invest in infrastructure projects. While this is a smart move to reinvigorate the stranded sector, the irony of public sector investment in private side of equity is not lost. While they stare at a disappointing year for PSUs on the stock exchanges, what has galvanised many of these mammoth organisations that have transformed these custodians of public money into vibrant, corporate and profit
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Govt plans to sell stake in IOC, CIL by year-end
To raise about $2.3 billion to boost public finances, the Union government has revived plans to sell stakes in two State-owned companies-Indian Oil Corp (IOC) and the Coal India.
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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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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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CIL awaits clearances for 241 projects
For its 241 projects, Coal India (CIL) is awaiting environment and forestry clearances. At present, 48 environmental clearance proposals, having a capacity of about 109 million tonne per year, are awaiting clearances at different levels.
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Coal India to Develop Coal bed Methane Reserves
Union Minister of State for Coal Pratik Prakash Bapu Patil has said that Coal India CIL is pursuing development of coal bed methane (CMM) from its mining areas as it would be beneficial on mine safety as well as environment.
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CIL plans Rs50 bn Investment
Coal India (CIL) has earmarked Rs 50 billion for capital expenditure on its domestic operation during 2013-14. Also, the monopoly coal producer made an ad-hoc provision of Rs 40 billion for acquisition of assets abroad