Page 3 - Coal India Limited

Strong performance in Q3 adds fuel to Coal India Limited's stock

The e-auction ASP declined 34 per cent Y-o-Y to Rs 3,321 per tonne, which was at a premium of 117 per cent over FSA

Coal India Q3 results: Profit rises 17% to Rs 9,069 cr, revenue up 2%

Coal behemoth CIL on Monday reported a 16.9 per cent rise in consolidated net profit to Rs 9,069.19 crore for the December quarter. The company's consolidated net profit stood at Rs 7,755.55 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing. Its consolidated revenue from operations in the October-December period increased to Rs 36,153.97 crore from Rs 35,169.33 crore a year ago. CIL accounts for over 80 per cent of domestic coal production.

CIL appoints Mukesh Agrawal as director of finance with immediate effect

State-owned CIL on Thursday said Mukesh Agrawal has taken over as its Director, Finance. Agrawal took charge from Debasish Nanda, Director, Business Development, who was holding the additional responsibility as Director, Finance, Coal India Ltd (CIL) said in a statement. "Agrawal took over as Director, Finance... on and from 8 February 2024," CIL said. Prior to this, Agrawal was Executive Director at NLC India Ltd, it said. Agrawal's experience spans over three decades during which he has worked with ITI Ltd, IRCON International Ltd, and NLCIL.

Coal India aims to deploy 681 EVs at mines, subsidiary headquarters by FY26

State-owned Coal India Ltd aims to take the total number of e-vehicles at its mines to 681 by FY2025-26 from 178 at present, the government said on Wednesday. Coal and Mines Minister Pralhad Joshi in a written reply to the Lok Sabha said that Coal India Ltd is asserting on hiring electric vehicles at different mines and subsidiary headquarters. The present number of e-vehicles in Coal India Limited is 178, he said. The total target for e-vehicles in FY26 is 681, the minister said. Coal India Limited has taken various initiatives for reduction of carbon emission in mining operations which includes deployment of e-vehicles in all its subsidiary companies, he said. CIL accounts for over 80 per cent of domestic coal output.

Coal India production rises 9.1% to 78.4 million tonnes in January

State-owned CIL on Thursday reported a 9.1 per cent rise in coal production at 78.4 million tonnes (MT) in January. The company had produced 71.9 MT of coal in the corresponding month of previous fiscal, Coal India Ltd (CIL) said in a filing to BSE. Coal production by CIL in April-January period also increased to 610.3 MT from 550.9 MT in the corresponding period of previous fiscal, the filing said. Coal offtake in January increased to 67.6 MT from 64.4 MT in the corresponding month of previous fiscal. The offtake of dry fuel during April-January period increased to 619.5 MT from 572.3 MT in the year-ago period. Coal India accounts for over 80 per cent of domestic coal output.

Coal India plans to begin mining of critical minerals, including lithium

State-owned Coal India Ltd (CIL) is mulling entering into the mining of critical minerals, including lithium, an official said. CIL plans to get a block from the government for exploration and once lithium reserves are proved, the PSU would go for mining, the official said. Lithium is the 'cosmic' mineral which is needed as part of the country's energy security plans. It is being seen as a game-changer mineral to achieve the Net Zero goals in the coming years. "We will take one block from Government of India and do exploration and once lithium is proved then we can go for mining," Coal India Director (Technical) B Veera Reddy told reporters here. Reddy also holds the additional charge of Chairman and Managing Director (CMD) of Central Coalfields Ltd. Coal India's core business is mining, he said and exuded confidence that the PSU will definitely be successful in the mining of critical minerals. "We have expertise in coal mining and we can divert all our resources for mining of ..

India's path to renewable energy: Balancing growth and coal transition

As the share of renewable energy (RE) increases in the country's energy mix, it is expected that the dependency on coal will decline

Metallurgical coal manufacturer body flags import of cheap met coke

Association of producers and suppliers of metallurgical coal on Monday expressed concerns over the "influx of met coke at prices below the domestic cost of production" and sought the government's intervention to resolve the issue. Metallurgical coal is a grade of coal that can be used to produce good-quality coke. The prevailing import rate for metallurgical coke in India is USD 395 per tonne, while the production cost for domestic met coke manufacturers is around USD 460 per tonne. This significant pricing gap has led to an influx of over 3.6 million tonnes of inexpensive met coke imports during 2022-23, posing a substantial challenge to India's merchant met coke sector, The Indian Metallurgical Coke Manufacturers' Association (IMCOM) said. "To maintain a sustainable ecosystem in the met coke industry, we suggest that the Indian government impose quantitative restrictions on overseas met coke imports. Such restrictions across various countries could potentially curtail total impor

299 mines identified as abandoned, discontinued or closed so far: Govt

The government on Friday said it has identified 299 mines as abandoned, discontinued, or closed so far and Coal India Ltd has taken proactive steps towards the closure of these mines. In addition, an expert committee has been appointed to review the existing mine plan guidelines to strengthen the mine closure framework and to adopt best international practices. "A total of 169 pre-2009 and 130 post-2009 mines, considered abandoned, discontinued, or closed, have been identified. "Of these, 68 pre-2009 mines are marked for final closure, with 63 Final Mine Closure Plans (FMCPs) diligently prepared. Additionally, 14 pre-2009 mines are designated for temporary closure, with comprehensive Temporary Mine Closure Plans (TMCPs) developed for each," the coal ministry said in a statement. Mines closed before 2009 often lacked a structured closure framework, leading to non-scientific closures. Acknowledging the physical hazards and environmental consequences associated with these abandoned .

Coal production in the country increases by 10.75% in 2023: Govt

In a public statement, the Ministry of Coal said the production of Coal India Limited (CIL) has risen to 71.86 million tonnes (mt) in December 2023, as compared to 66.37 mt in December 2022

Uday A Kaole appointed chairman-cum-managing director of Coal India arm MCL

Uday A Kaole has assumed the charge of the Chairman-cum-Managing Director (CMD) of Coal India arm Mahanadi Coalfields Ltd (MCL). Prior to joining MCL as its CMD, Kaole was the Director (Technical) at Bharat Coking Coal Ltd (BCCL). Kaole brings with him 36 years of rich technical and administrative experience in the coal mining sector. He has a long experience of working in challenging underground coal mines operations, as well as in the opencast mines, MCL said in a statement. He had joined Coal India as Junior Engineering (Trainee) in 1987 and served at various important positions in Western Coalfields Limited (WCL) and South Eastern Coalfields Limited (SECL). A mining engineering graduate from Nagpur University with the First Class Mine Manager competency certification, Kaole also has degrees of Master of Business Administration (MBA) and Legum Baccalaureus (LLB) from Nagpur University.

South Eastern Coalfields to invest Rs 169 crore on 'Miyawaki' plantation

Headquartered in Chhattisgarh's Bilaspur district, SECL operates 65 coal mines, of which 39 lie in Chhattisgarh while remaining 26 are located in Madhya Pradesh

The safe bet of underground mining

In the face of coal's challenges, its underground mining can prove to be a promising and environmentally conscious path to safeguarding India's energy future

CIL's coal output rises 11.5% to 460 mn tonnes during April-November

State-owned CIL on Friday said its coal production grew by 11.5 per cent to reach 460 million tonnes (MT) during the April-November period of the ongoing fiscal. CIL accounts for over 80 per cent of domestic coal output. The company had produced 412.5 MT of coal in the year-ago period, Coal India Ltd (CIL) said in a statement. "With 11.5 per cent year-on-year growth CIL stayed ahead of the annual asking rate of 10.2 per cent. The production saw an upsurge of 47.4 MT in quantum terms compared to 412.5 MT of same period last year," the PSU said. All the seven arms of CIL have registered growth with two of them -- BCCL and NCL -- achieving their respective progressive targets. During the last month CIL's production increased by 8.7 per cent to 66 MT from 60.7 MT in the corresponding month of previous fiscal. Supply of coal by CIL to the power sector registered a rise of 4.7 per cent to 398.7 MT in the April-November period compared to 380.8 MT in the year-ago period. "CIL feels con

Chhattisgarh-based SECL records fastest 100 mt output since inception

The company joined the 100 mt club on November 18 and achieved the target in the shortest period since it came into being in 1985

Coal India's e-auction volume projected to double in second half of FY24

Coal India is likely to e-auction approximately 60 million tonnes of coal in the second half of the current fiscal year, according to estimates indicated by the management. This represents a significant increase from the 32 million tonnes sold in the first two quarters of the year, officials said. Coal India informed analysts that it aims to sell 15 per cent of its production in the second half of the current fiscal (September 2023-March 2024) through e-auctions, which currently command a premium of around 90 per cent over the Fuel Supply Agreement (FSA) price. "We are expecting 15 per cent of production to be e-auctioned in the second half," Coal India chairman PM Prasad said. In the first half of the year, Coal India produced 360 million tonne and the miner remained confident to produce 780 million tonne this fiscal. Coal India also informed of its plans to raise e-auction share of production from 10 to 15 per cent in the current fiscal year and further increase it to 20 per cen

Coal India to phase out mining equipment imports in 6 years, says govt

State-owned CIL, which has imported high-capacity mining equipment worth Rs 3,500 crore in the past five years, has drawn up a plan to phase out such inbound shipments over the next six years, the government said on Thursday. The move aims to encourage and develop domestically manufactured equipment, it said. "Currently, Coal India Ltd (CIL) imports high-capacity equipment, such as electric rope shovels, hydraulic shovels, dumpers, crawler dozers, drills, motor graders, and front-end loaders wheel dozer, valued at Rs 3,500 crore, incurring additional expenses of Rs 1,000 crore in customs duty," the coal ministry said in a statement. These equipment were imported over the past five years. To curb these imports and boost domestic manufacturing, CIL has devised a strategy to phase out imports gradually over the next six years, it said. Notably, high-capacity machines are already being procured from domestic manufacturers. With a strong commitment to reduce the country's dependence o

CIL gives extension to Debasish Nanda as Director, Business Development

State-owned CIL on Wednesday said it has given extension to Debasish Nanda, who at present is company's Director, Business Development. The extension has been given to Nanda, who is at present company's Director, Business Development, for a period of six months effective November 2, 2023 or till the appointment of a regular incumbent or until further orders, whichever is earliest, Coal India Ltd (CIL) said in a regulatory filing. Nanda took over as CIL's first Director, Business Development last year. Before joining CIL, Nanda was working as Executive Director (Gas) in Indian Oil. Nanda, a graduate in mechanical engineering from UCE Burla, Sambalpur University, a post graduate in production engineering from REC Rourkela and a Masters in International Business from IIFT, New Delhi. He joined Indian Oil in 1988 as a management trainee in the marketing division and spent 11 years in marketing of Servo lubricants.

Coal India's supply to thermal power plants rises 11% to 50.8 MT in October

State-owned CIL's coal supply to electricity generating plants rose by 11 per cent to 50.8 MT in October amid higher power demand in the festive month. The fuel supply by Coal India Ltd (CIL) to the power sector was 45.8 MT in October last fiscal. The higher supply of five million tonnes (MT) was despite rain lashed across the mines of CIL's subsidiaries based in the eastern part of the country -- Eastern Coalfields Ltd (ECL), Bharat Coking Coal Ltd (BCCL), Central Coalfields Ltd (CCL) and partly Northern Coalfields Ltd (NCL) -- during the first week of October, the maharatna firm said in a statement. In the first seven months of the current financial year, coal supply by CIL to the power sector increased by 15 MT to 346 MT from 331 MT a year ago, registering a growth of 4.5 per cent. "The quantum supplies to the power sector were 4.7 MT more than the progressive commitment of 341.3 MT till October," the statement said. The company is confident of breaching the annual supply targe

Three-day strike against Coal India on 5 October to hit production

In August, the coal production from CIL mines stood at 52.3 million tonnes (MT), registering a year-on-year growth of 13.2 per cent over 46.2 MT