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CIL's coking coal production drops by 9% in May
Economic Times
·
1m ago
Medial
Coal India Ltd's (CIL) coking coal production decreased by 8.7% to 4.53 million tonnes in May, with another decline to 9.36 million tonnes noted in the April-May period. The government aims to boost domestic coking coal production to 140 million tonnes by 2029-30 under 'Mission Coking Coal,' reducing import dependency. Coking coal is crucial for steel production, and initiatives are underway to enhance domestic coal washing and utilization to improve energy efficiency and decarbonization.
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Coking coal hits five-month high on government mine inspections
Economic Times
·
16d ago
Medial
Coking coal prices in China surged to a five-month high due to government inspections on coal mines, raising supply disruption concerns. The most active coking coal contract on the Dalian Commodity Exchange rose 11%, marking a third consecutive session of hitting the trade limit. The inspections cover major coal production regions, potentially impacting the output for 2024. Meanwhile, iron ore prices saw a slight decline after a brief rally influenced by the announcement of a large hydropower project in Tibet.
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Coal India production drops by 8.5% in June
Economic Times
·
1m ago
Medial
Coal India Ltd (CIL) reported an 8.5% drop in coal production to 57.8 million tonnes in June, compared to 63.1 MT the previous year. The decline is attributed to seasonal factors like the monsoon. Similarly, coal offtake fell by 7.4% to 60.4 MT. Despite this, the government reassured that coal shortages are not expected during the monsoon, aiming for production growth and reduced import dependency. CIL targets 875 MT production by 2025-26.
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BCCL targets Rs 40,000 Cr topline by FY30
YourStory
·
1y ago
Medial
Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India, aims to achieve a revenue of Rs 40,000 crore by FY30 through increased production and diversification. BCCL plans to expand its production capacity from 41 million tonnes per year to over 100 million tonnes, with a capital expenditure of Rs 3,000 crore by FY30. The company also plans to increase its production of washed coal, leading to import substitution and cost savings. BCCL is inviting bids for the development of coal washeries to attract steel sector participation. Additionally, BCCL is venturing into coal bed methane (CBM) and solar power.
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Coal India Shares Heat Up on IPO Buzz for Two Arms
OutlookIndia
·
2m ago
Medial
Coal India shares surged by up to 4% following reports about the company's plans to list two subsidiaries, Bharat Coking Coal and Central Mine Planning & Design Institute. The listing process has begun, with a draft red herring prospectus soon to be filed. Despite the stock's recent gains, it had lost over 11% in the past year. Coal India accounts for over 80% of domestic coal production, with plans to expand critical mineral projects overseas.
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Coal India Q3 Results: Profit soars 18% YoY to Rs 9,094 crore
Money Control
·
1y ago
Medial
Coal India Ltd (CIL) reported a 17.8% increase in consolidated net profit to Rs 9,093.69 crore for the quarter ended December 31, 2023. Revenue from operations increased by 2.8% to Rs 36,153.97 crore. The company's consolidated sales also rose by 4.4% to Rs 38,357.23 crore. CIL's EBITDA increased by 13% to Rs 13,576.35 crore, and raw coal production and offtake both saw significant growth compared to the previous year. The company also declared a second interim dividend of Rs 5.25 per share.
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Lured by discounts, Indian steelmakers lap up Russian coking coal | Mint
Livemint
·
11m ago
Medial
India's imports of coking coal from Russia have increased by 53% year-on-year between January and August, making Russia the third-largest supplier of the fuel to India. The lower cost of Russian coal, available at a discount of 15-20% compared to other sources, has attracted buyers like JSW Steel and Steel Authority of India Ltd (Sail) in an effort to reduce costs. However, the poor quality of Russian coal compared to Australian supplies and geopolitical sensitivities may limit further expansion of Russian imports. Australia remains the largest supplier of coking coal to India, accounting for over half of the total imports.
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JSW Steel eyes acquisition of 20% stake in Australian coal mine
Money Control
·
1y ago
Medial
Indian steel company JSW Steel is reportedly in talks to acquire a 20% stake in the Blackwater coal mine in Australia, owned by Whitehaven Coal. The deal is estimated to be worth between $750 million and $1 billion. The Blackwater mine is one of the largest open-cut metallurgical coal producers in Australia's Bowen Basin. JSW Steel has been actively seeking to secure its coking coal supply and increase its production capacity. Other interested parties in the Blackwater mine include the AvidSys Group and Japanese trading houses Itotchu, Marubeni, and Sojitz.
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Captive, commercial mines to eat into Coal India’s share by end of the decade
Thehindubusinessline
·
1y ago
Medial
Captive and commercial coal mines in India are projected to increase their share of domestic coal supply from 10% in FY21 to 19% by 2030, impacting state-owned mining company Coal India (CIL). This shift is attributed to the exponential expansion of commercial and captive mining capacity. Although CIL's share of domestic supply is expected to decrease, its overall share in the supply mix, including imports, will increase to 66% by 2030. The growth of private sector mining is seen as crucial in meeting the rising demand for coal and supporting the economy.
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Coal India consultancy unit CMPDIL files for IPO
VCCircle
·
2m ago
Medial
Central Mine Planning and Design Institute Ltd (CMPDIL), a consultancy unit of Coal India, has filed for an IPO, planning to sell up to 71.4 million existing shares. The draft prospectus was filed without disclosing the IPO size. CMPDIL, India’s largest coal and mineral consultancy, offers services in mine planning and exploration. SBI Capital Markets and IDBI Capital Markets are managing the IPO. Meanwhile, Coal India has not yet filed IPO papers for Bharat Coking Coal Ltd.
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India recorded higher-ever coal production in FY24 at over 997 MT
Money Control
·
1y ago
Medial
India achieved its highest-ever coal production in FY24 with 997.828 million tonnes, addressing concerns over coal shortage. The domestic production increased by 11.71% compared to the previous fiscal year. Efforts to increase domestic production include the establishment of a Single Window Clearance portal for coal mines, encouraging captive mines to sell up to 50% of production in the open market, liberalization of commercial coal mining terms, and the adoption of better technology by Coal India. Additionally, the Coal Ministry developed an Import Data System to track imports and ensure adequate domestic supply.
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