Leading mining, power, and metals companies raised several concerns in the upcoming auction of coal mines for commercial mining. They told the coal ministry officials that seeking financing for commercial mining would be a major issue, sources said.
The ministry of coal has released a probable list of 84 mines which will be offered for auction. They have geological reserves of 22,360 million tonne.
Road transport minister Nitin Gadkari has committed that the Delhi-Mumbai expressway will be built within next three years. The deadline for the expressway has been fixed for January 26, 2023. The expressway will reduce the travel time to 12 hours.
State-owned Coal India (CIL) has received green clearances for 17 mining projects, a move that will enable the world’s largest coal miner to achieve one-billion-tonne production target, Coal MinisterPralhad Joshi has said.
Coal India Ltd has registered an over 10% growth in production to 54.17 million tonnes (MT) till January 27 compared with 48.94 million tonnes it reported in the same period last year. This is the first double-digit growth that the company has registered during the ongoing fiscal.
According to an official, the production spurt came largely on the back of better show at Mahanadi Coalfields and South Eastern Coalfields (SECL). He further added that by the end of January, production is likely to be up by another 8 MT.
Coal India (CIL) has liquidated over 78% of non-lapsable arrear rakes to non power sector after it had build up sufficient coal stock for the power plants. The arrear rakes for the non-power sector consumers were pending for FY18 and FY19.
CIL began by clearing 5,143 arrear rakes on April 1, 2019 and brought down the number to 1,116, clearing 4,027 rakes. It is expected that the rest will be cleared by the end of the fiscal.
According to a CIL official, two factors mainly contributed to clearing the pending railway rakes. First, a pick up in production post monsoon and second, a low demand scenario from the power plants, which helped CIL build up sufficient stock
Research firm Wood Mackenzie is of the view that Indian coal production will improve in 2020. WoodMac Principal Analyst Mr Pralabh Bhargava said , higher rainfalls not only resulted in lower coal generation but also hindered domestic coal production, however, domestic production is expected to improve in 2020. Firm Wood Mackenzie expect coal consumption to grow only 0.5% in 2019 as compared to 8.5% in 2018 but expect consumption to improve in 2020 with a growth rate of 4.4%.