Page 7 - Coal India Limited

South Eastern Coalfields to invest Rs 169 crore on 'Miyawaki' plantation

Headquartered in Chhattisgarh's Bilaspur district, SECL operates 65 coal mines, of which 39 lie in Chhattisgarh while remaining 26 are located in Madhya Pradesh

The safe bet of underground mining

In the face of coal's challenges, its underground mining can prove to be a promising and environmentally conscious path to safeguarding India's energy future

CIL's coal output rises 11.5% to 460 mn tonnes during April-November

State-owned CIL on Friday said its coal production grew by 11.5 per cent to reach 460 million tonnes (MT) during the April-November period of the ongoing fiscal. CIL accounts for over 80 per cent of domestic coal output. The company had produced 412.5 MT of coal in the year-ago period, Coal India Ltd (CIL) said in a statement. "With 11.5 per cent year-on-year growth CIL stayed ahead of the annual asking rate of 10.2 per cent. The production saw an upsurge of 47.4 MT in quantum terms compared to 412.5 MT of same period last year," the PSU said. All the seven arms of CIL have registered growth with two of them -- BCCL and NCL -- achieving their respective progressive targets. During the last month CIL's production increased by 8.7 per cent to 66 MT from 60.7 MT in the corresponding month of previous fiscal. Supply of coal by CIL to the power sector registered a rise of 4.7 per cent to 398.7 MT in the April-November period compared to 380.8 MT in the year-ago period. "CIL feels con

Chhattisgarh-based SECL records fastest 100 mt output since inception

The company joined the 100 mt club on November 18 and achieved the target in the shortest period since it came into being in 1985

Coal India's e-auction volume projected to double in second half of FY24

Coal India is likely to e-auction approximately 60 million tonnes of coal in the second half of the current fiscal year, according to estimates indicated by the management. This represents a significant increase from the 32 million tonnes sold in the first two quarters of the year, officials said. Coal India informed analysts that it aims to sell 15 per cent of its production in the second half of the current fiscal (September 2023-March 2024) through e-auctions, which currently command a premium of around 90 per cent over the Fuel Supply Agreement (FSA) price. "We are expecting 15 per cent of production to be e-auctioned in the second half," Coal India chairman PM Prasad said. In the first half of the year, Coal India produced 360 million tonne and the miner remained confident to produce 780 million tonne this fiscal. Coal India also informed of its plans to raise e-auction share of production from 10 to 15 per cent in the current fiscal year and further increase it to 20 per cen

Coal India to phase out mining equipment imports in 6 years, says govt

State-owned CIL, which has imported high-capacity mining equipment worth Rs 3,500 crore in the past five years, has drawn up a plan to phase out such inbound shipments over the next six years, the government said on Thursday. The move aims to encourage and develop domestically manufactured equipment, it said. "Currently, Coal India Ltd (CIL) imports high-capacity equipment, such as electric rope shovels, hydraulic shovels, dumpers, crawler dozers, drills, motor graders, and front-end loaders wheel dozer, valued at Rs 3,500 crore, incurring additional expenses of Rs 1,000 crore in customs duty," the coal ministry said in a statement. These equipment were imported over the past five years. To curb these imports and boost domestic manufacturing, CIL has devised a strategy to phase out imports gradually over the next six years, it said. Notably, high-capacity machines are already being procured from domestic manufacturers. With a strong commitment to reduce the country's dependence o

CIL gives extension to Debasish Nanda as Director, Business Development

State-owned CIL on Wednesday said it has given extension to Debasish Nanda, who at present is company's Director, Business Development. The extension has been given to Nanda, who is at present company's Director, Business Development, for a period of six months effective November 2, 2023 or till the appointment of a regular incumbent or until further orders, whichever is earliest, Coal India Ltd (CIL) said in a regulatory filing. Nanda took over as CIL's first Director, Business Development last year. Before joining CIL, Nanda was working as Executive Director (Gas) in Indian Oil. Nanda, a graduate in mechanical engineering from UCE Burla, Sambalpur University, a post graduate in production engineering from REC Rourkela and a Masters in International Business from IIFT, New Delhi. He joined Indian Oil in 1988 as a management trainee in the marketing division and spent 11 years in marketing of Servo lubricants.

Coal India's supply to thermal power plants rises 11% to 50.8 MT in October

State-owned CIL's coal supply to electricity generating plants rose by 11 per cent to 50.8 MT in October amid higher power demand in the festive month. The fuel supply by Coal India Ltd (CIL) to the power sector was 45.8 MT in October last fiscal. The higher supply of five million tonnes (MT) was despite rain lashed across the mines of CIL's subsidiaries based in the eastern part of the country -- Eastern Coalfields Ltd (ECL), Bharat Coking Coal Ltd (BCCL), Central Coalfields Ltd (CCL) and partly Northern Coalfields Ltd (NCL) -- during the first week of October, the maharatna firm said in a statement. In the first seven months of the current financial year, coal supply by CIL to the power sector increased by 15 MT to 346 MT from 331 MT a year ago, registering a growth of 4.5 per cent. "The quantum supplies to the power sector were 4.7 MT more than the progressive commitment of 341.3 MT till October," the statement said. The company is confident of breaching the annual supply targe

Three-day strike against Coal India on 5 October to hit production

In August, the coal production from CIL mines stood at 52.3 million tonnes (MT), registering a year-on-year growth of 13.2 per cent over 46.2 MT

Coal India stock surges over 7% on BSE; touches nearly five-year high

The stock finished the day at its highest level since October 2018

More than a coal miner: Rebranded Coal India to embrace new identity

Ministry sources indicate that the rebranding exercise and name change are currently under consideration, and the CIL board will soon make a decision

222.93MT coal produced in Q1FY24, up 8.4% from last year: Coal Ministry

Coal India contributed the most to this growth, producing 175.35 mt coal in the first quarter of financial year 2023-24

Three projects to boost SECL coal production, dispatch in Chhattisgarh

The SECL is procuring over 400 HEMMs that include 261 dumpers with capacity between 60 tonnes to 240 tonnes

Expansion plan for one of world's biggest coal mines challenged in India

Protests against plans for the Gevra site in the eastern province of Chhattisgarh threaten to complicate Coal India Ltd's ability to win approvals to expand annual capacity to 70 million tons

Institutions lap up Coal India shares with bids worth Rs 6,500 crore

Institutional investors lapped up Coal India shares in this fiscal's maiden government stake-sale, with Rs 6,500 crore bids pouring in on the first day of the offer-for-sale. The government had offered over 8.31 crore shares to institutional investors on Thursday under the offer-for-sale (OFS), but received bids for 28.76 crore shares or 3.46 times. At the indicative price of Rs 226.12 a share, the bids of institutional buyers are worth Rs 6,500 crore. "Offer for Sale in CIL received enthusiastic response from non-retail investors today. The issue was subscribed 3.46 times of the base size. The government has decided to exercise the green shoe option. Retail investors get to bid tomorrow," Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey tweeted. The government currently holds 66.13 per cent in CIL. The stake sale in Coal India will help the government inch towards the Rs 51,000-crore disinvestment target set for the current fiscal. In the two-day

Coal India slips 5% as government begins partial stake sale via OFS

The floor price for the stake sale has been set at Rs 225 a share, which represents a discount of around 7 per cent from the closing price of Rs 241.2 on Wednesday

Coal imports could be cut as CIL output rise to 1 bn tonnes: PM Prasad

Imports of non coking coal could be cut drastically by fiscal 2025-26 on the back of increased output of dry fuel in the country, P M Prasad, Chairman and Managing Director of Central Coalfields Ltd (CCL) said. The chairman of the Coal India subsidiary said the world's largest coal miner, Coal India Ltd, would be able to produce one billion tonnes by FY26. "We have to see that targets are in place. Last year (fiscal 2022-23) we (Coal India) produced 703 million tonne. The target for FY 24 is 780 MT and FY 25 is 880 MT, Prasad, whose name was recommended by the PESB earlier this month for the job of CMD of Coal India Ltd, told PTI. He added that the CIL production will touch one billion tonnes in FY 26. If we achieve this, definitely imports of non-coking coal will be reduced....within three years non coking coal imports can be brought down to a minimum level," Prasad said. India's overall coal production has witnessed a quantum jump to 893.08 MT in FY 2022-23 as compared to 728.

Digging deeper: Coal India's 1-bn tonne target to spur mining in states

Just transition goals, ecological challenges in contrast to mining plans

Coal India net profit rises 62% to record Rs 28,125 crore in FY23

Q4 profit slips marginally, Board declares Rs 4 per share dividend

CIL to pump in Rs 91K cr on diversification, projects by FY26: P M Prasad

Domestic coal major Coal India Ltd (CIL) will pump in Rs 91,000 crore in various projects, including diversification and mine development, by 2025-26, P M Prasad, chairman and managing director of CIL-arm Central Coalfields Ltd (CCL) said on Thursday. The Public Enterprises Selection Board (PESB) on Wednesday recommended the name of Prasad for the post of Chairman and Managing Director (CMD) of Coal India. "Rs 91,000 crore will be spent on diversification and other projects put together ... These will be pumped in till 2025-26," Prasad told PTI in an interview post his selection to head the coal behemoth. He said a sum of Rs 36,000 crore will be spent on coal gasification projects while another Rs 46,000 crore will be pumped-in mining developers cum operators (MDOs) and other contracts. The remaining amount will be spent on various other projects. CIL has already identified 15 greenfield projects having a total project-rated capacity (PRC) of 168.58 million tonnes (MT) per annum fo