Page 8 - Coal India Ltd

Coal India looking to buy metal mines abroad

Analysts see this as a long-term strategy to firm up revenues, with no immediate results in sight

Coal India upbeat over metals mining venture, wants to go it alone

---Drop the pointer table ---Coal India's decision to reposition itself as a holistic energy entity and harness its strength in mining by diversifying into metals will place the government-owned major in a league with global miners like Glencore, Rio Tinto, BHP, Vale and others.A consultant has been hired to do a study on how the company can modernise and adapt to current trends.The metals mining move will also help it hedge against the impact of renewable energy. As India, in line with other countries, moves towards 'clean' and renewable energy, the dependence on thermal power would decline. This means less demand for coal. Coal India itself estimates the share of coal in commercial energy supply would go from 55 per cent in 2015-16 to 48-54 per cent by 2040. "Hence, it is natural for a company solely dependent on coal sales to branch out and diversify into mining of other metals, where demand is likely to remain stable," says Partha Bhattacharyya, past chairman of Coal India.Around .

Coal India to venture into metals mining

The company is on the lookout to acquire mines in India and Africa for the new vertical

Ramped-up Coal India output saves Rs 25,900 crore in forex

Expecting thermal power-based electricity to remain the mainstay in the country's energy scenario in the country for the coming 30 years, government-owned Coal India is bullish on its volumes picking up to cater to the demand from power stations and on better prices.At its 43rd annual general meeting, interim chairman Gopal Singh said the coal-based power generation capacity of 125 Gw in 2012 is likely to become 330-441 Gw by 2040. This year, power generation in the category is going to touch 192 Gw. "The demand for these plants is likely to be first met by domestic coal, which will require quick exploration of our reserves and call for fuller resource assessment, optimum mining and efficient use," he said.In 2015-16, the share of coal in commercial energy supply was 55 per cent but is likely to dip to 48-54 per cent by 2040 as thermal and renewable energy's contribution is likely to go up. Nevertheless, Singh says coal demand is going to remain high.Year-on-year, there was growth of .

Hike in coal output saved Rs 25,900 cr forex: CIL MD

Coal MD said coal imports accounted for 25 per cent of the country's total consumption in 2015-16, and 23 per cent in 2016-17