Search Result for : Coal India Limited Cil

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 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 Emboldened by inflated valuations due to doubling of coking coal prices in the previous year, Coal India Ltd. (CIL) had announced plans to explore coking coal assets in US, Colombia, South Africa, Indonesia and Australia. It has been reported that CIL has now zeroed in on Australia and South Africa for foreign acquisitions. The logistical advantage of shipping coal from Australia due to its proximity makes the country favourable over US or South Africa. The government-owned coal giant started exploring opportunities outside India in January 2017, via its subsidiary Coal Videsh. Lack of technological wherewithal required to build domestic reserves prompted the public sector coal miner to explore opportunities abroad in January 2017. CIL has two routes ...

The Dollar Business Bureau Coal imports have declined by 21.7% to 14.31 million tonnes in January as the power utility companies did not lift enough fuel due to the surplus stock available with them. Import of all types of coals in January this year was 14.31 million tonnes (provisional) compared to 18.28 million tonnes in the same month in 2016- an ecommerce platform, mjunction services limited jointly created by Tata Steel and SAIL told PTI. “In power sector, the state utilities are replete with stock and are aiming to curb imports altogether (except for coast-based plants) by March 2017. This explains the substantial drop....In steam coal imports in January 2017 vis-a-vis the same month last year,” said Vinaya Varma, Chief Executive Officer, mjunction. There was ...

The Dollar Business Bureau Coal India Limited (CIL) comes bearing good news for the non-regulated sector (sponge iron, cement, steel etc) as it announces its decision to start the second phase of auction of coal linkages in January 2017. About 14.5 million tonnes is the estimated quantity of fuel that's on offer, of which, 5 million tonnes is exclusively for the sponge iron sector. Coal being a major source of power in India, its shortage is no surprise. All power-generating entities rely on the state-owned coal mines for their share of fuel, making its supply far more scanty for the non-power sectors such as steel, cement and aluminium. Earlier, Standing Linkage Committee was the deciding authority on coal allocation. Coal is now made ...

The Dollar Business Bureau  In order to increase the supply of washed coal, Coal India Limited (CIL) and its subsidiaries will set up 15 new coal washeries, of which 9 are for beneficiation of non-coking coal. “15 new coal washeries would be set by CIL and its subsidiaries, out of which 9 are for beneficiation of non-coking coal with an aggregate capacity of 94 Mty (75.5 Mty in 1st phase) to increase the washed coal supply, said Piyush Goyal, Minister of State (IC) for the Ministry of Power, Coal, New and Renewable Energy and Mines, in a written response to the Lok Sabha on Thursday. The subsidiaries include Mahanadi Coalfields Limited (MCL) in Odisha, Central Coalfields Ltd (CCL) in Jharkhand, and South Eastern ...

The Dollar Business Bureau India’s exports have recorded a positive growth of 1.27% in June 2016 for the first time after a gap of 18 months. The exports from the country are valued at $22.6 billion (Rs.151905 crore) during the month of June, against $22.3 billion (Rs.142342 crore) during the same month previous year, Ministry of Commerce & Industry said in a statement on Friday. According to data provided by the ministry, the overall exports from the country have declined 2.07% during the first quarter (Q1) of FY 2017 at $65.3 billion (Rs.436961 crore) against $66.7 billion (Rs.423315 crore) in the corresponding period previous fiscal year. The exports to the countries of USA, Japan and China have decreased 7.44%, 2.23% and 1.79% respectively ...