Coal India Ltd News

Coal India eyes 4-5% FY25 growth, CMD optimistic on key coalfield targets

During April to December 2024, CIL recorded a production of 543.4 mt, a growth of 2.2 per cent over the same period last year

Coal India targets 4-5% production growth in FY25 despite challenges

Coal India Ltd (CIL) has acknowledged that the realistic production target for the current fiscal will be 806-810 million tonnes (MT), down from 838 million tonnes, company Chairman PM Prasad said on Friday. CIL production grew 2.2 per cent to 543 million tonnes till December in the current fiscal. But aiming to ramp up production in the remaining days of the fiscal, efforts are on to achieve a growth of around 4 to 5 per cent, he said. "We are targeting a production of 806-810 million tonnes in the current fiscal," Prasad said on the sidelines of the announcement of the 11th edition of the International Mining and Machinery Exhibition (IME 2025). "In the full year, we are targeting to achieve a realistic target of about 4-5 per cent growth," Prasad told PTI. In FY24, CIL produced 773.65 million tonnes, marking an 11 per cent growth over FY'23. He expressed optimism about getting closer to the target, citing the performance of subsidiaries Mahanadi Coalfields, Northern Coalfields

Coal India looks to Argentina for lithium brine assets, critical minerals

Coal India Ltd (CIL) has set its sights on Argentina as a destination in its strategic diversification into critical minerals, with a focus on lithium brine assets, an official said on Sunday. Recognising the economic significance and strategic value of minerals like lithium (Li), nickel (Ni), cobalt (Co), and others, the Maharatna company has initiated steps to explore opportunities in key resource-rich nations such as Argentina, Australia and Chile. "The state-owned mining behemoth has invited expressions of interest (EoI) from experienced consultants to conduct technical due diligence on lithium brine assets in Argentina," a senior Coal India official told PTI. The selected consultant will undertake due diligence, an initial review process to assess the financial, strategic, and geological viability of the identified assets, he said. Lithium brine is a concentrated salt solution that contains dissolved lithium and other minerals. Lithium is in great demand for its use in ...

Tata Steel, Coal India, Hero MotoCorp from Nifty 50 hit 52-week lows

These stocks were down in the range of 1 per cent to 3 per cent in intra-day trades. They have corrected by up to 35 per cent from their respective 52-week highs

Coal India, IREL ink MoU to collaborate on development of critical minerals

Coal India Limited (CIL) and IREL (India) Limited on Monday signed a non-binding Memorandum of Understanding (MoU) to cooperate and collaborate on the development of critical minerals. The MoU aims to promote the development of mutually agreed assets of critical minerals, including mineral sands and rare earth elements (REE), Coal India informed bourses The two companies will work together to acquire assets, source raw materials domestically or internationally, and develop mining, extraction, and refining capabilities, Coal India officials said. This partnership is part of CIL's efforts to reduce India's import dependence on critical minerals including lithium and cobalt. CIL Chairman P M Prasad in the past emphasised the importance of acquiring these mineral assets in India and abroad to support the country's clean energy goals. The government in the Union Budget 2024-25 had announced Critical Mineral Mission that aims to expand domestic production, recycling, and incentivise the

CCI dismisses allegations of 'abuse of dominance' against Coal India

Fair trade regulator CCI has dismissed allegations of abuse of dominance against Coal India concerning its e-auction scheme introduced in December 2022, ruling that the state-owned company had not violated norms. Coal India Ltd (CIL), a Maharatna public sector undertaking under the Ministry of Coal, is the single-largest coal producing company in the world. "In view of the... facts and circumstances of the present matter, the commission is of the view that there is no prima-facie case of contravention of provisions of the act warranting an investigation into the matter," Competition Commission of India (CCI) said in a order on December 30. The case, filed by a Kolkata-based individual, claimed that Coal India's 2022 e-auction scheme replaced its earlier spot e-auction scheme 2007 with terms allegedly unfair to buyers, the order said. The individual argued that the scheme's conditions, such as requiring advance bid security and forfeitures without reciprocal obligations on CIL, ...

BPCL, IRFC, NHPC: 5 PSU stocks with up to 14% upside potential in near-term

Despite ending 2024 on a strong note, select PSU stocks such as Oil India, NHPC and Coal India plunged up to 43% from the peaks; technical charts hint at a possible pull-back in the near-term.

Coal India's CSR spend exceeds Rs 5,570 crore over the past decade

Coal India Ltd (CIL) has spent Rs 5,570 crore in Corporate Social Responsibility (CSR) initiatives over the past decade, a top official said on Sunday. Coal India Chairman P M Prasad said the PSU has been focusing on education, healthcare, skill development, sports, and women empowerment. Inaugurating the 3rd CIL CSR Conclave 2024 on Sunday, West Bengal Governor C V Ananda Bose underscored the transformative power of CSR initiatives in improving the lives of communities, particularly in tribal belts of coal-bearing areas. He lauded CIL's contributions, including its efforts to support cancer patients, stating that such initiatives contribute to the holistic development of the nation. CSR initiatives are a powerful tool to transform lives, especially in vulnerable regions, Bose said. "Coal India spent Rs 5,570 crore in Corporate Social Responsibility initiatives over the past 10 years," Prasad said. Coal Secretary Vikram Dev Dutt commended coal companies for their impactful CSR .

Coal India floats tender seeking bids from private players for e-auction

Despite having switched to its internal e-auction platform in January this year, Coal India Ltd (CIL) has floated a tender seeking bids from private service providers to conduct e-auctions of the dry fuel for its subsidiaries over the next two years, officials said on Monday. This move has left external e-auction service providers, such as MSTC and mjunction, who have managed CIL's auctions through electronic platforms for nearly two decades, confused and they were seeking more clarity before deciding whether to participate in the tender, stakeholders said. The deadline for submission of bids is November 27. CIL had engaged its subsidiary CMPDI to develop an internal coal e-auction system in collaboration with the National Informatics Centre (NIC), the officials said. The internal platform was successfully transitioned in January 2024 after conducting successful trials in 2023. "However, there have been complaints about the system's performance, prompting Coal India to seek extern

Coal India, Tata Elxsi among 4 stocks to be wary of as market bounces back

Coal India, Tata Elxsi, Schaeffler and ELGI Equipments have witnessed a 'Death Cross' pattern on the daily chart; hence are likely to face downward pressure going ahead.

CIL to supply coal beyond normative requirement to non-regulated sector

State-owned CIL on Thursday said it will supply coal beyond the normative requirement to the non-regulated sector, including steel. The decision, taken on November 13, will be applicable tranche VIII linkage auction onwards, which is scheduled to begin soon. Coal India, which accounts for over 80 per cent of domestic coal production, has tweaked the policy provision to permit coal supplies beyond the annual contracted quantity (ACQ) to non-regulated sector (NRS) customers in long-term linkage auctions. Earlier, in NRS linkage auctions, end user plants were allowed to obtain linkages up to their normative requirement. The standard norm to calculate the requirement is the quantity of coal that a plant will need if it operated at 85 per cent of its installed capacity for a whole year. The actual supply of coal through linkage auctions was up to this determined quantity. Any customer seeking above 85 per cent of the ACQ had to step off the auction process to procure coal. Enabling s

Coal India's NCL plans to relocate Morwa township in MP for mining project

Coal India arm NCL is planning a huge rehabilitation and resettlement (R&R) project and is working on relocating the residents from the township in Madhya Pradesh's Singrauli, which has 600 million tonnes of mineable coal underneath, company's CMD B Sairam said. Talking to reporters here, Sairam said Morwa township in Singrauli, Madhya Pradesh, is spread across 927 hectares. The project, which is quite huge, will have its own share of challenges as it will involve relocation of the entire Morwa township of Northern Coalfields Ltd (NCL). "The good thing is that in this acquisition, the people are ready to relocate. So half of the problem is solved because the first resistance comes from the people only," the chairman and managing director (CMD) said. Once people are ready, the only thing to decide is the rates of the compensation and the R&R benefits, he said. For the last six months, NCL has been regularly negotiating with the people on rehabilitation and resettlement. "Based .

Coal Minister urges CIL to boost production and reduce import reliance

State-owned CIL's priorities should be to ramp up production of coal and scale up supplies to reduce imports, Union Minister G Kishan Reddy has said. Coal India Ltd (CIL) accounts for over 80 per cent of domestic coal output. Speaking at CIL's 50th Foundation Day on Sunday, the minister stressed upon the importance of miners' welfare and the rehabilitation of communities affected by mine closures. "Contractual workers play a significant role in Coal India's output, and I applaud the management's decision to implement Performance Linked Incentives for them, effective FY 2023-24," he was quoted as saying in a coal ministry statement. The launch of commercial coal mining has led to transparency, ease of doing business and investment opportunities, helping open the coal sector. Exuding confidence in CIL, he stated that the company has the competency and commitment to compete in the current open market scenario. While coal will remain a central component of the country's energy landsc

Coal India hopes to rejoin dividend list as ECL improves performance

Coal India aims to eliminate Rs 2,200 crore in accumulated losses at its subsidiary, Eastern Coalfields Ltd (ECL), and to rejoin the dividend list by FY 2025-26, a top official said on Sunday. At the foundation day event, Coal India chairman P M Prasad said Bharat Coking Coal Ltd, another previously loss-making subsidiary, has already re-entered the dividend list. He expressed confidence that ECL would achieve similar success by FY 2025-26. Coal India has seven coal-producing subsidiaries. "ECL is performing well and is on track to meet its production target of 54 million tonnes this year. We expect to eliminate two-thirds of its Rs 2,200 crore accumulated losses this fiscal year, with the remaining losses cleared by the following year, allowing it to rejoin the dividend list," Prasad said. He added that the next 3-4 months would present challenges for production due to monsoon impacts on growth. However, Coal India remains on track to achieve its overall production target of 773 ..

Volume outlook, e-auction premiums remain positive for Coal India stock

Given a strong volume outlook, e-auction premiums and assuming lower operating costs, the long-term outlook remains positive

What's led Coal India stock to drop 6% in trade post Q2 results; Details

Coal India's board declared the first interim dividend of FY25 at Rs 15.75 per share

Coal India Q2FY25 results: Net profit declines 22% to Rs 6,275 crore

The consolidated sales of the company during the second quarter declined to Rs 27,271.30 crore, over Rs 29,978.01 crore in the year-ago period

Q2 results today: Indigo and Macrotech among 148 to post earnings on Oct 25

Q2FY25 company results: Bharat Petroleum, Hindustan Petroleum, Bharat Electronics, and Zee Media are among 148 companies to release their quarter earnings report on October 25

SECL to spend Rs 169 cr on plantation drive in MP, Chhattisgarh in 5 yrs

Coal India-arm SECL is set to spend Rs 169 crore over the next five years on extensive plantation drives in Chhattisgarh and Madhya Pradesh, an official statement said on Monday. In partnership with the Rajya Van Vikas Nigam, the South Eastern Coalfields Ltd (SECL) aims to plant over 26 lakh saplings in Chhattisgarh and 12 lakh in Madhya Pradesh between 2023-24 and 2027-28. The initiative also includes a four-year maintenance period for each year of plantation to ensure proper growth and survival of saplings, the coal ministry said in a statement. In alignment with the Prime Minister Narendra Modi's 'Ek Ped Maa Ke Naam' campaign, SECL has planted 1,46,675 saplings across its operational areas in Chhattisgarh and Madhya Pradesh.

Higher e-auction share key for Coal India stock; 15% target boosts outlook

Given predictable demand and steady growth, if e-auction at 15 per cent is achieved, the outlook is positive