Page 9 - Coal

South Eastern Coalfields plans Rs 1,218 cr investment for solar projects

As part of its net zero commitments, Chhattisgarh-based mining company SECL has lined up an investment of Rs 1,218 crore spread up to financial year 2025-26 for setting up solar projects. South Eastern Coalfields Ltd (SECL), with 67 blocks, is among the top three coal producing subsidiaries of Coal India Ltd (CIL), under the Ministry of Coal. In FY23, CIL's output was 703.21 MT, out of which SECL's contribution was 167 MT. "SECL aims to become a net-zero energy company. SECL plans to develop solar projects of more than 600 MW in the coming years, and plans to invest more than Rs 1,000 crore in renewable energy. The investments are part of the company's strategy to expand and diversify its business to achieve net zero commitments," SECL said in a statement. Sharing the break up of the investment plan, SECL said two solar projects of 20 megawatt (MW) each are being set up at Bhatgaon and Bishrampur, and another 0.8 MW at Saraipali Korba area in Chhattisgarh. Total cost of these projec

Coal production increased in big way from FY22-FY23; supply improved: Icra

India's coal production picked up in "a big way" during FY22 and FY23 resulting into improved availability and supply of the dry fuel, on account of various government initiatives towards the sector, Icra said. The production of Coal India grew by 12.1 per cent in FY23, the ratings agency said, adding it was the fastest growth rate registered by the state-owned miner in the past few decades. Besides enhancing output and supply, the government implemented multiple reforms to bring in greater transparency, improvement in ease of doing business, and investment attractiveness in the domestic coal and mining sectors, Jayanta Roy, Senior Vice President & Group Head Corporate Ratings, Icra, said. The government has taken various initiatives since January 2015. The policy interventions, especially with regard to the both captive and commercial coal mining have ushered in greater transparency and ease of doing business in the coal sector, he said in the Icra note. "Domestic coal ...

NTPC's captive coal mines production nearly doubles to 8.48 MMT in Apr-Jun

The production from captive coal mines of NTPC almost doubled to 8.48 million metric tonnes (MMT) in the first quarter of FY24, a statement said on Saturday. NTPC produced 4.27 MMT coal from its captive mines in Q1 FY23, the company said in the statement. The despatch of coal from its mines more than doubled to 8.82 MMT in Q1 FY24 from 4.17 in April-June FY23, it added. "This outstanding performance reflects NTPC's relentless commitment to enhancing coal production from its captive mines and ensuring efficient supply to meet the nation's energy needs," it said. To achieve sustained growth in coal production, NTPC has implemented a range of strategies and technologies. These include the adoption of rigorous safety measures, improved mine planning, equipment automation, workforce training and implementation of continuous monitoring and analysis systems. NTPC Ltd, under the power ministry, is India's largest integrated power utility, contributing 1/4th of the country's energy

CIL should remain public sector entity to maintain price stability: Chair

Coal India Chairman Pramod Agrawal said on Thursday that the company should continue to remain as a "government entity" in the future to maintain "price stability" of the dry fuel in the country and suggested an alternative methodology for coal pricing in future. In an interview with PTI a day before his term ends as the head of Coal India on June 30, Agrawal said unlocking value cannot be the "sole" purpose of all enterprises. As a government-owned entity, Coal India holds the responsibility of ensuring that the benefits of coal production are distributed to the public, he said. Agrawal also pointed out that the miner's identity is synonymous with the country's energy sector, and the present structure with CIL as the apex holding company is "strong and stable". "We have seen severe price escalation in international coal prices last year. In such a scenario, private companies would have stepped up their prices as well. However, for a government agency like Coal India, such a situat

Technical bids for 7th coal block auction to open on Wednesday: Ministry

Technical bids coming for the seventh round of commercial coal block auctions will be opened on June 28, an official statement said on Monday. "As part of the auction process, Technical Bids comprising of online and offline bid documents will be opened on June 28, 2023, 10:00 am onwards at New Delhi, in the presence of the bidders," the Ministry of Coal said in a statement. The last date for submission of online technical bids for all the coal mines is 1200 hours on June 27, 2023, and offline submission is 1600 hours on June 27, 2023, it said. On March 29, the government on Wednesday launched the seventh round of commercial coal auctions in a bid to increase the availability of dry fuel in the country. A total of 103 coal mines were put on the block in the latest round of auctions. Of the total mines offered, the majority of blocks are partially explored. The government amended the mineral laws to open up the coal sector to provide a level-playing field to the public and private .

Late push to extend coal subsidies upsets EU deal on energy reforms

The proposed reform aims to make power prices more stable and predictable, by putting new state-backed renewables and low-carbon nuclear plants onto fixed-price contracts for difference

Shanghai power plant burns 800 tons of coal an hour to keep city cool

A heat wave is scorching China, killing livestock and straining electricity grids across the country. Temperatures in Beijing soared to as high as 39C (102F) on Thursday

Power Min asks imported coal-based plants to run full capacity till Sept 30

The Ministry of Power on Monday extended the time period of its direction to all thermal plants using imported coal to operate at full capacity by three-and-a-half months till September 30 to avoid electricity shortage amid rising demand in the country. Peak power demand met or the highest supply in a day touched a record high of 223.23 GW on June 9, 2023. A power ministry notice shot off on Monday to 15 imported coal-based thermal power projects, stated: "It has now been decided to extend the time period for Section 11 to imported coal-based generators up to September 30, 2023." Earlier in February, the ministry asked these imported coal based plants to operate at full capacity from March 16, 2023, to June 15, 2023, invoking Section 11 of the Electricity Act 2003 to avoid any outage due to a sudden rise in power demand. Peak power demand was estimated to touch a record high of 229GW during this summer. However, unseasonal rains affected the demand as people used fewer cooling ...

SECL in expansion mode, to make Gevra world's largest coal mine, says CMD

South Eastern Coalfields Ltd (SECL) is aiming to scale up the capacity of its Gevra mine to 70 MTPA to make it the world's largest coal producing site by the end of ongoing fiscal, company's CMD Prem Sagar Mishra said. Located at Korba, about 193 kilometer from Raipur, the capital of Chhattisgarh, SECL's Gevra mine is the world's fourth largest coal mine at present, the official told PTI in an interview at Bilaspur. While two of the largest coal mines are in the US, one is in Indonesia, Mishra said adding "we are in expansion mode of our Gevra mine to 70 million tonne per annum (MTPA) to make it the world's single largest coal producing site." In financial year 2022-23, the mine produced 52.5 MT of coal which was above its target for the year, the Chairman-cum-Managing Director said. When asked about the timeline for achieving the 70 MTPA target, the CMD replied "we aim to achieve it by the end of the current fiscal year. We are waiting for the environmental clearances which we exp

Centre issues allocation orders to successful bidders of 22 coal blocks

The nominated authority, Ministry of Coal has issued vesting orders for 22 coal mines to successful bidders of coal blocks, said the ministry

Cabinet approves Rs 2,980 cr for Exploration of Coal and Lignite scheme

The government on Wednesday approved the continuation of the central sector plan 'Exploration of Coal and Lignite scheme' with an estimated expenditure of Rs 2,980 crore. The time period for the extension is from 2021-22 to 2025-26 co-terminus with the 15th Finance Commission cycle, the Cabinet Committee on Economic Affairs (CCEA) said in a statement. "The CCEA chaired by Prime Minister Narendra Modi approved the continuation of the Central Sector Scheme of "Exploration of Coal and Lignite scheme" with an estimated expenditure of Rs 2,980 crore from 2021-22 to 2025-26 co-terminus with the 15th Finance Commission cycle," it said. Under this scheme, exploration for coal and lignite is conducted in two broad stages: (i) Promotional (Regional) Exploration and (ii) Detailed Exploration in non-Coal India Limited blocks. The approval will provide an outlay of Rs 1,650 crore for promotional (Regional) exploration and Rs 1,330 crore for detailed drilling in non-CIL areas, the statement ...

Will not face shortage of coal this year, even during Monsoon: Pralhad

India will not face any shortage of coal this year even during the monsoon, Coal and Mines Minister Pralhad Joshi said on Tuesday. No matter what is the demand this year, the government is prepared to meet the same, the minister said at a conference on underground coal mining here. "I assure the country on behalf of Coal India and the coal ministry that there will not be any shortage of coal even in the monsoon this time," he said. The preparation is good and it is "our responsibility" to meet the entire demand this year, Joshi said. Speaking to PTI on the sidelines of the event, the minister said while 35 million tonne (MT) coal is at thermal power plants, 65 MT is lying at pit heads of Coal India and private miners and another 10-12 MT is in various stages of transportation. On the movement of coal through rakes, Joshi said the ministry is working in close coordination with Railways for movement of the dry fuel from pit heads to locations. Earlier, the minister also unveiled Co

Coal India share sale over-subscribed, govt to get more than Rs 4,000 crore

The Coal India share sale was over-subscribed by both retail and institutional investors and the government is expected to get more than Rs 4,000 crore. In the two-day offer for sale (OFS), the government sold its 18.48 crore shares or 3 per cent stake in Coal India at a floor price of Rs 225 apiece. At the floor price, the stake sale would fetch over Rs 4,000 crore to the exchequer. Institutional investors had on Thursday put in bids for over 28.76 crore share, while retail buyers on Friday bid for over 2.58 crore shares of Coal India. Institutional bidders on Friday put in bids for 5.12 crore shares. Coal India OFS is the maiden government stake sale of a public sector undertaking in the current fiscal. 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. Shares of Coal India settled for the day at Rs 230.90 apiece on the BSE, up 0.15 per cen

Coal production up 7.10% YoY at 76.26 MT in May, dispatch rises 5.7% MoM

Domestic coal production was 7.10 per cent higher year-on-year at 76.26 million tonne (MT) in May. India had produced 71.21 MT coal during the same month in 2022, the coal ministry said in a statement. "Ministry of Coal has achieved a remarkable feat with a substantial surge in overall coal production during May 23, reaching 76.26 MT surpassing May 22 of 71.21 MT, representing an increase of 7.10 per cent," it said. The cumulative coal production in April-May FY24 jumped to 149.41 MT from 138.41 MT in the year-ago period. Last month, Coal India Ltd (CIL) alone produced 59.94 MT coal, up 9.54 per cent over 54.72 MT in May 2022. With an increased first-mile connectivity infrastructure, coal dispatch last month grew 5.70 per cent to 82.22 MT from 77.79 MT in May 2022. First-mile connectivity refers to the transportation of coal from pitheads to dispatch points. The cumulative coal dispatch in April-May FY24 stood at 162.44 MT as against 149.76 MT in the year-ago period. This upturn

CIL hikes non-coking coal prices by 8%; expects Rs 2,703 crore revenue

Coal India Ltd (CIL) on Tuesday said it has increased prices of non-coking coal by 8 per cent. The prices will come into effect from Wednesday, the miner said in a regulatory filing. "The Board has approved a price increase of 8 per cent over the existing notified prices for high-grade coal of grade G2 to G10. This will be applicable to all subsidiaries, including NEC, for regulated and non-regulated sectors," CIL said. The board of directors of the company approved the revision in the prices of non-coking coal with effect from 00:00 hours of May 31, 2023, it said. Following this revision, CIL is expecting to earn incremental revenue of Rs 2,703 crore for the balance period of the financial year 2023-24. Thermal coal is a non-coking coal used by power plants to generate electricity. A rise in its prices impacts the power generation cost. Coal India, under the Ministry of Coal, is the largest coal producer in India. As per official data, in April 2022, the country's overall coal

JSW Steel eyes coking coal assets to beef up raw material security

Target is to have 25% linkages in the next few yrs: Acharya

790 million tonnes and rising: Big & small MDOs help meet coal demand

Rising electricity demand is pushing for more coal mining as thermal power continues to be the backbone of supply

Govt extends last date to submit bids under 7th tranche of coal auctions

The government has extended the last date to submit bids under the seventh round of commercial coal auctions till June 27, 2023, an official statement said Wednesday. The government had earlier fixed May 30 as the last date to submit bids for the 106 coal mines that were put on the block in the latest round of auctions. On March 29, the government launched the seventh round of commercial coal auctions in a bid to increase the availability of the dry fuel in the country. In a statement, the Ministry of Coal said: "In view of requests received from a large number of potential bidders, it has extended the last date for bid submission by 28 days and now the last date for bid submission for the seventh round of auctions is 27.06.2023 which was 30.5.2023 earlier." The ministry further said that so far 133 mines with cumulative peak rated capacity (PRC) of 540 million tonne per annum (MTPA) have been allocated/auctioned. In order to facilitate the private players for early development of

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.

Refex Industries posts standalone PAT of Rs 50.67 crore in Jan-Mar quarter

Refex Industries Ltd, engaged in selling refrigerant gases and handling coal ash and fly ash, has reported a standalone profit after tax of Rs 50.67 crore for the quarter ending March 31, 2023, the company said on Friday. During the corresponding quarter of the previous year, the figure stood at Rs 24.01 crore. For the year ending March 31, 2023 the standalone profit after tax grew to Rs 116.06 crore, compared to Rs 45.38 crore a year ago. Refex's standalone total income during the quarter under review went up to Rs 631.97 crore from Rs 178.11 crore in the same period of the previous year. For the year ending March 31, 2023 that figure rose to Rs 1,637.43 crore from Rs 448.98 crore in the last financial year. In a press release, the company said, "This quarter has shown an unprecedented result which is a testimony to our rigorous efforts and commitment." "Even at the quarterly level, the business segments have been able to keep the momentum that had been achieved through the quar