Search Result for : Coal Imports

The Dollar Business Bureau The Government’s move to allow commercial mining of coal by private sector will not only enhance production but also help in cutting the import bill by around Rs.30,000 crore, through substitution of imported non-coking coal with local production, according to the global rating agency CRISIL. Last month, the Cabinet Committee on Economic Affairs (CCEA) has approved the methodology for auction of coal mines/blocks, under the Coal Mines Act, opening up the commercial coal mining for private sector. “The move to allow the private sector to commercially mine coal will boost both production and mining efficiency. Moreover, the substitution of imported non-coking coal with domestic production could save roughly Rs.30,000 crore of coal imports,” CRISIL said in a statement. At present, ...

The Dollar Business Bureau Industry association Federation of Indian Chambers of Commerce and Industry (FICCI) welcomed the Government decision for allowing commercial mining of coal and said that it will support ‘Make in India’ initiative and reduce the country’s dependence on coal imports. The Union Cabinet on Tuesday cleared a process of bidding for commercial mining after four years after enabling the sale and commercial mining of coal through the Coal Mines (Special Provisions) Ordinance, 2014. “FICCI welcomes Cabinet approval to introduce commercial mining of coal and sees it as a landmark policy decision that will change the face of Indian Coal Sector by ushering in rebalancing of prices and market dynamics riding on efficient and large-scale mining,” the industry association said in a statement on Wednesday. It considers that ...

The Dollar Business Bureau The imports of coal into India has increased by 40% to 19.18 million tonnes in the month of November, as the demand for winter restocking has picked up and due to low position of coal stock in power plants.  “Coal import (all type of coals) in November 2017 stood at 19.18 million tonnes (provisional), against 13.70 million tonnes in November 2016 and 19.77 million tonnes in October 2017,” according to the recent data released by mjunction services.  mjunction services ltd, a pioneer in e-auction services, is an online sales and procurement platform promoted jointly by Tata Steel and SAIL.  The surge in imports is primarily due to the 4.18 million tonnes increase in the imports of non-coking coal during the ...

The Dollar Business Bureau India’s coal import declined by 6.37% to 191.95 million tonnes in the last fiscal of 2016-17 on account of higher production by Coal India Ltd (CIL) which indicates that the country has moved to a regime of coal surplus. In the fiscal of 2015-16, imports of coal stood at 203.95 million tonnes, according to official data. “On enhanced production by CIL, the country has moved from a regime of coal scarcity to a coal surplus situation,” a media statement by CIL said. The overall domestic production of coal was 659.27 million tonnes against a demand of 884.87 million tonnes, it reads. The Government has announced that it is planning to boost the annual production capacity of CIL to 1 billion tonnes by 2019 in ...

The Dollar Business Bureau Coal imports have fallen from 217.78 Million metric tonne (Mte) in 2014-15 to 203.95 Mte in 2015-16 and further to 190.95 Mte in 2016-17. The trend of fall in import of coal has continued in 2017-18. This was stated by the Minister of State for Power, Coal & New and Renewable Energy and Mines during a reply to a question in the Lok Sabha.   The fall in imports is largely on account of enhanced production by Coal India Limited (CIL), due to which the country has moved from a regime of coal scarcity to a coal surplus situation. The Minister further stated that as per Directorate General of Commercial Intelligence & Statistics (DGCI&S), during April-June 2017-18, 52.74 ...

The Dollar Business Bureau China will ban the imports of coal from July 1 at small ports, according to a report by the state-run newspaper - China Securities Times on Wednesday. China, the world's largest coal consumer, tightens the supply of this fuel as part of its efforts to manage glut as well as smog. The move to ban coal imports is one of the latest attempts by the country to control the coal supply during summer and also to support the prices, which have fluctuated in the previous year in the wake of a series of regulations which are aimed to keep the prices of the fuel high enough so that they can support the miners.  The ban will only cover tier II ports that were set up with approvals ...

The Dollar Business Bureau The Government said on Sunday that it is targeting to bring down the imports of thermal coal to ‘zero’ of power public sector units (PSUs) such as NTPC Ltd in this fiscal, a step that will help in cutting down the import bill of the country by about Rs.17,000 crore. “This year we want that coal import by these plants (of public sector companies) should be brought down to zero and slowly we would convince the private sector that there is no need for you to import coal,” Susheel Kumar, Secretary - Coal told the PTI. The government would gradually persuade the private firms to stop the imports of thermal fossil fuel and source their coal requirements through local sources as this is ...

PTI  India and Australia failed to make a headway in finalising the long-overdue free trade deal during Prime Minister Malcolm Turnbull's first visit to India though he got along well with his counterpart Narendra Modi, the Australian media revealed. Turnbull's trip had raised high hopes of breathing new life into the stalled trade negotiations but the two leaders admitted that the progress was "very slow". The Australian PM said there was no point in setting arbitrary time frames for the agreement. "You can sign an agreement any time, it’s a question of whether it’s got the provisions that make it valuable and worthwhile from Australia's point of view," Turnbull was quoted as saying by Skynews TV channel. The two covered a ...