Search Result for : Coal Mines

The Dollar Business Bureau The government has generated Rs.1747.7 crore from the auction of 31 coal blocks. So far, it has allocated 82 coal mines by way of auction/allotment.  "The revenue generated till January 2017 from the auction of 31 coal mines is Rs 17,47,72,47,706," Coal and Power Minister Piyush Goyal said in a written reply to the Lok Sabha.  "Out of the 82 coal mines, 31 coal mines have been allocated through e-auction," it said.  "The revenue from the auction of coal mines under the provision of Coal Mines (Special Provisions) Act, 2015 comprises of Upfront Amount as prescribed in the tender document, auction proceeds and royalty on per tonne of coal production, which shall be devolving entirely to ...

The Dollar Business Bureau Adani Enterprise is likely to withdraw its proposal to build the $10-billion Carmichael coal mine project in Australia. This is due to the delay that the company is facing caused by multiple legal challenges by various environmental groups, the company's Chairman Gautam Adani said on Saturday. Adani expressed his disappointment to the media as the project got delayed beyond its schedule.  Australia's Queensland government had given permission for coal mining which is estimated at 11 billion tonnes. Approval was given to build roads, power lines and pipelines along with the mine. But this wasn't approved by the environmentalists who were fighting against the Govt's approval. According to them, there could be potential loss to the environment due to dredging, shipping and other climate changes stoked by coal mining. Groups of environmentalists ...

Source: PTI    Government will soon exploit economically unviable coal mines for gasification to produce cheaper urea to cut down on huge Rs.55,000 crore annual subsidy on the fertiliser, Union Minister Nitin Gadkari on Saturday said. “We cannot extract coal from 40% coal mines in the country, which are not economically viable. The idea is to use these soon for coal gasification by which we can get urea at a cost of only Rs.8,000 to Rs.10,000 a tonne,” the Road Transport and Highways Minister said at Economic Times Global Business Summit in New Delhi. Four of the 30 chemical and fertiliser factories in India produce urea from naphtha, the cost of which comes to around Rs.40,000 a tonne, he said. The ...

The Dollar Business Bureau Earlier this year, the government had set up an ambitious target of doubling domestic coal production over a period of five years   In a bid to curb rising imports, the government on Monday said it has prepared a roadmap to increase domestic coal production. “The focus of the government is on increasing the domestic production of coal which includes efforts to expedite environment & forest clearances expeditiously, pursuing with state government for assistance in land acquisition and coordinated efforts with railways for movement of coal,” Power & Coal Minister Piyush Goyal said, in a written reply to a question in the Rajya Sabha. Coal imports have continuously surged over the past three years. Total imports during 2012-13, ...

 The Dollar Business Bureau The gross domestic product (GDP) for the financial year (FY) 2016, will grow by 7.7% (FY15: 7.4%), driven by a further pick up in private consumption demand. Consumption demand is expected to expand 8.1% in FY16 (FY15: 7.1% and FY14: 6.2%), said a rating agency. A significant moderation in inflation and inflationary expectations is likely to boost consumer sentiments, albeit gradually. The share of private consumption demand in GDP is around 60%. Even investment and government expenditure would provide adequate support to consumption-led GDP growth, said a report by India Ratings and Research (Ind-Ra). There are conflicting views with respect to the monsoon in 2015 as Indian Meteorological Department is predicting less-than-normal monsoon and private ...