Coal India Ltd´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.
Tag: Coal Ministry
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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.
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Coal Ministry taking steps to boost coal supplies
The Coal Ministry has said it is working in tandem with the Railway Ministry for expeditious laying of three critical rail lines in three States to transport the dry fuel.
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Coal e-auctions likely by February
The Coal Ministry has issued draft guidelines for reallocation of coal mines cancelled by the SC, marking the duties of the authorities appointed to operate the ordinance issued. The Centre plans to conduct a two-stage auction under the Coal Mines Special Provisions Ordinance.
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New tapering linkages policy
The Coal Ministry is likely to revisit the policy on tapering linkages which may be done after the apex court gives its judgement on coal mines issue, according to a ministry source.
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Coal ministry amends bidding document on 3 blocks
The Coal Ministry has made amendments in certain clauses of the bidding document pertaining to the three coal blocks put for auction. The development follows the bidders raising concerns on various issues with regard to the mines put up for sale.
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Government evaluating site in Bihar for UMPP
The power ministry is evaluating a site in Bihar for setting up a 4,000 MW ultra mega power project (UMPP) and has approached the Coal Ministry for allocation of a nearest coal block for the thermal plant.
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Coal banking referred to law ministry
The proposal of coal banking arrangement, which was mooted by the Association of Power Producers (APP), has been referred to the Union Law Ministry for its opinion. According to APP, this could increase the do¡m¡es¡tic supply and thereby reduce imports.
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CIL to raise efficiency by installing GPS system
By March 2014, Coal India (CIL) plans to install GPS-based system for tracking transportation of coal and thereby improve efficiency at its major mines. The system is intended to prevent theft of coal and increase productivity.
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Notices to 12 firms
Twelve companies received show cause notice from the union coal ministry for not developing the allocated coal blocks within the stipulated timeframe.