Page 4 - Coal India Limited

Thermal coal imports plunge by 31% in Oct on slow power generation

Indian shipments of the fuel used mainly for power generation have been tracking the trajectory of growth in shipments by top importer China over the last year, shoring up international prices

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

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

CIL plans to monetise 4 old washeries, aimed at long term supply contract

State-owned Coa India Ltd is exploring options to monetise its four old washeries by leasing out those assets and plans to bundle lease contracts with long-term coal supply agreements. The move aims at optimising asset utilisation. "We are exploring the monetisation of four old washeries," Coal India Ltd (CIL) said in a report. The company which accounts for over 80 per cent of domestic coal output is diversifying its portfolio by setting up a non-coking coal washery at Ib Valley, Lakhanpur in Mahanadi Coalfields Ltd (MCL) -- one of the subsidiaries of CIL. The public sector enterprise commissioned the operation of Madhuband Washery having 5 million tonnes of annual capacity during 2023-24 to further enhance coking coal beneficiation capacity. The company is also setting up three new washeries in Bharat Coking Coal Ltd (BCCL) -- another arm of CIL -- with a total throughput capacity of seven million tonnes per annum. Besides, five coking coal washeries with a total capacity of 14

India set to kick off its first offshore mineral auction: Mines Secretary

He encouraged the industry to study the exploration reports of these blocks and bring in interested domestic and international players

CIL's contribution to govt exchequer rises 2% to Rs 20,072 cr in Apr-Jul

Coal India's contribution to govt exchequer rises 2 pc to Rs 20,072 cr in Apr-July

After SC's ruling on mineral rights, CIL stares at 'hard hit' in Odisha

Coal India has seven coal-producing companies. The impact of the SC ruling on five of these coal-producing companies was zero, Prasad pointed out

CIL actively pursuing acquisition of critical minerals, says chairman

Coal India on Wednesday said it is actively pursuing acquisition of critical minerals, including lithium, in the domestic market and overseas and stressed that it would continue to take part in the auction of such blocks. Critical minerals, including lithium, play a crucial role in the production of clean energy technologies, from wind turbines to electric cars. They are particularly in demand for the production of batteries for electric cars. "With an objective to reduce the import dependence of critical minerals like lithium, cobalt, CIL is actively pursuing acquisition of these mineral assets in India and abroad," Coal India Ltd (CIL) Chairman P M Prasad said during 50th Annual General Meeting of the company. CIL, he said, will continue to participate in e-auction of critical mineral blocks offered by the mines ministry. CIL has successfully opened its account in domestic critical mineral asset, emerging as the preferred bidder for Khattali Chotti graphite block in Alirajpur ..

CIL, GAIL sign agreement to set up coal-to-synthetic natural gas project

State-owned CIL on Monday said it has entered into a joint venture agreement with GAIL (India) Ltd to set up a coal-to-synthetic natural gas project in West Bengal. While Coal India Ltd (CIL) will have 51 per cent shareholding in the joint venture, GAIL, the nation's largest gas transportation and distribution firm, will have 49 per cent. The joint venture will be incorporated as a private limited company. The initial paid-up share capital is Rs 1 lakh, CIL said in a BSE filing. The registered office of the joint venture will be in West Bengal and CIL and GAIL each will have the right to nominate three executives as directors of the JV. Earlier this year, the Cabinet Committee on Economic Affairs had approved setting up a coal-to-synthetic natural gas project through a joint venture between CIL and GAIL, and a coal-to-ammonium nitrate project through a venture between CIL and BHEL. CIL will set up two coal gasification plants as part of efforts to achieve the target of 100 MT coal

Bharat Coking Coal pays first-ever Rs 44 crore dividend to Coal India

Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India Limited (CIL), paid its first-ever dividend of Rs 44.43 crore to its parent company on Sunday. This milestone follows BCCL's achievement of clearing its accumulated losses and reporting a net profit of Rs 1,564 crore for the financial year 2023-24, with a turnover of Rs 13,216 crore. BCCL chairman-cum-managing director Samiran Dutta formally handed over the dividend to CIL chairman P M Prasad at a ceremony. The dividend payment was approved by BCCL shareholders at its 53rd Annual General Meeting on August 1. Dutta attributed the company's strong financial performance and strategic progress to a consistent growth rate of 15 per cent over recent years.

Coal India arm NCL contributed Rs 15,000 cr to govt exchequer in FY24: CMD

Northern Coalfields Ltd (NCL) CMD B Sairam on Saturday said that the company despatched 94 per cent of its total coal to the power sector and contributed Rs 15,000 crore to the central as well as state exchequer in FY24 in the forms of royalty and GST. Sairam also reaffirmed the company's commitment towards fulfilling the energy security of the nation. Speaking at the sidelines of Singrauli Industrial Summit 2024 organised by NCL at its headquarters, the CMD of the Coal India arm also outlined the company's contribution to the inclusive development of the Singrauli region. He also underscored the benefits of adopting an integrated approach based on shared values for the holistic development of Singrauli. The summit was organised with the objectives of driving economic growth, sustainable industrial growth, diversification, harnessing the full industrial potential, and creating employment opportunities with socio-economic upliftment and regional development. The summit marked ...

Strong volume growth, lower costs positive for Coal India's outlook

While operating profit margins are likely to normalise over the next two fiscals, the net profit estimates are being upgraded by analysts on the basis of higher OBR reversals

Advancing 119 projects worth Rs 1,33,576 cr to boost output: Coal India

Coal India Ltd is advancing 119 projects with a capacity of 896 million tonne per year and a sanctioned capital of Rs 1,33,576 crore, the world's largest miner said. These projects, which are at various stages of implementation, are part of CIL's proactive strategy to increase production capacity and meet future coal demands, the company said in its latest annual report. Though the mining major did not specify a timeline for the capex, it said the development of these projects involves substantial investments in advanced mining technologies and infrastructure, aimed at enhancing productivity and ensuring sustainable mining practices. The Kolkata-headquartered company has set an ambitious target of achieving 1 billion tonne of production by 2025-26 to fulfill the nation's coal demand and support the goal of Atmanirbhar Bharat'. In the 2023-24 fiscal, its production stood at 773.6 million tonne. CIL said in 2023-24, one coal mining project with a sanctioned capacity of 20 million to

Coal India forays into critical mineral mining in Madhya Pradesh

CIL won the bid by quoting a mining premium of 150.05 per cent of the value of the mineral despatch, which it will pay to the State of Madhya Pradesh

State-owned Coal India firms up gasification plans in tie-up with BHEL

In May 2024, CIL and Bhel joined hands to set up BCGCL as a joint venture. CIL holds 51 per cent stake while Bhel has 49 per cent

Coal India to offer Rs 1 lakh to eligible UPSC aspirants: How to apply?

As part of Centre's 'Mission Karmayogi', the state-owned Coal India is powering a CSR initiative to offer Rs 1 lakh financial assistance to eligible UPSC candidates

Coal India's production increases by 8% during the first quarter

The Union Ministry of Power has mandated the import of coal for blending at thermal power plants to continue till October 2024

State-run Coal India exploring lithium assets in Argentina with US company

India and the United States said on Monday they were co-investing in a lithium resource project in South America and a rare earths deposit in Africa to diversify critical minerals supply chains

Centre plans to launch 'Coal Reforms 3.0', eyes non-power sectors

CoalMin plans to unlock domestic coking coal availability via several steps

India targets higher domestic coal production, reduced imports: Govt

India, which is under pressure from rich economies to stop or reduce coal use, has plans to set up new coal power plants with power generation set to begin four years later