"The coal ministry intends to purchase the house and build a memorial on it," minister of state for coal Shriprakash Jaiswal told PTI, adding directions have been given to the officials of the ministry to purchase the house 'at any cost.' The minister said he, along with officials of Coal India Limited, will be visiting South Africa on August 17 in this connection.
India's new climate pledge to the UN could be weakened by its growing use of coal, even as the country plans a 2035 roadmap to cut emissions and boost clean energy.
The government may offload a maximum of 10 per cent of its stake in the state-run firm. Currently, its holdings in CIL stands at 100 per cent.
To offset the impact of high import costs, the Planning Commission has said that CIL should adopt a pooling formula on prices by combining rates of imported and domestic coal.
The company has already received the coal ministry's nod to reduce the face value of its shares to Rs 10 from Rs 1,000 at present.
The CMOAI had earlier called for a three-day strike that began on Thursday.
Coal India achieved a staggering production of 536.51 million tonnes during the financial year ended March 31, 2016
Way before the rains arrived at Talwandi Sabo Power plant in Punjab, the one check the coal ministry was carrying out was the availability of coal stock with the generator. Talwandi Sabo Power Limited (TSPL), the 1,980-Mw thermal power plant of Sterlite Energy, part of the Vedanta Group, which supplies about 15 per cent of Punjab's power, is one of the most difficult locations to manage coal supplies. It is nearly 1,700 km from the mines of Mahanadi Coalfields in Odisha, the longest coal route in India and possibly the trickiest as it cuts through the traffic heavy rail lines between Delhi and eastern India.
Zama, however, said the unions would keep resisting any move that could undermine the position of Coal India.
As it wants to put a sizeable number of shares in the market and also offer them to employees and farmers displaced by its mines.
Says Coal India is ready to sign at 80% trigger level, with 15% imported coal on cost-plus model.
NRW is one of the leading providers of construction and mining services with a turnover $1.35 billion in 2011-12.
Coal India employees, who were barred by their unions from buying shares during the mega-IPO last year, may after all get another opportunity.
Commerce and Industry Minister Piyush Goyal announced that an interim trade agreement between India and the US is likely to be signed in March and operationalised in April, with chief negotiators meeting in Washington to finalize the details.
Amid the low stock position at the electricity generating plants, state-owned CIL has asked its subsidiaries to refrain from conducting any further e-auction of coal, except special forward e-auction for the power sector, till the situation stabilises. The development assumes significance as the supply of coal is being prioritised to the power sector to replenish the dwindling stock in the wake of reports of an electricity crisis looming large. "In view of the current low stock position at the powerhouse end, supply of coal is being prioritised to the power sector to replenish the dwindling stock...coal companies are advised to refrain from conducting of any further e-auctions of coal with the exception of special forward e-auction for the power sector, till the situation stabilises," Coal India said in a recent letter to its arms, including Eastern Coalfields Ltd (ECL), Bharat Coking Coal Ltd (BCCL), Central Coalfields Ltd (CCL).
Coal India looks set to achieve its 2024-25 (FY25) production targets. If it can achieve its aim of ramping up Fuel Supply Agreement (FSA) and e-auction volumes, along with cost-saving, evacuation and infrastructure-improvement projects, the company could maintain its momentum as a critical infrastructure and core industry performer. Analysts estimate e-auction volumes of 108 million tonnes (MT) in FY25 and 120 MT for FY26, which is encouraging given the premium of e-auction prices which are consistently over 50 per cent higher than FSA.
Coal ministry officials along with senior officials from Coal India and department of disinvestment would meet with capital market regulator Securities and Exchange Board of India this month to take forward the process of listing the public sector unit.
Coal production by Coal India (CIL) has grown slower than the captive mines, awarded over the last six years. During 2020-22, production from the captive mines jumped by 38.5 per cent while CIL saw a tepid growth of 3.4 per cent, according to government data. In terms of dispatch to the power sector, captive mines have raced ahead, witnessing a growth of 72 per cent compared to 15 per cent for CIL. For the current fiscal year, CIL's production is expected to be around 565 million tonnes.
India has clarified its position on the proposed interim trade agreement with the US, stating that the joint statement remains the basis for mutual understanding. Amendments to a White House fact sheet reflect shared understandings, with both sides working towards finalizing the agreement.
An Inter-ministerial panel had last month approved 10 per cent equity sale in Coal India. At present, the government holds 90 per cent stake in the firm.
Prabhu-led advisory group also suggests JVs with mining and infra firms.
Coal India Limited's (CIL) October-December quarter of financial year 2023-24 (Q3FY24) results have beaten the Street's estimates. Revenue rose 3 per cent year-on-year (Y-o-Y) to Rs 36,200 crore, led by higher volumes and better realisation from Fuel-Supply Agreement (FSA) coal. The blended average selling price (ASP) was down 6 per cent Y-o-Y to Rs 1,727 per tonne, and the FSA ASP was up 3 per cent Y-o-Y to Rs 1,532 per tonne.
The PM-elect wants to fix the coal sector; cut coal imports by boosting output.
The agreement addresses non-tariff barriers and promotes increased trade in technology products and cooperation between the two countries.
Finance Minister Arun Jaitley has said the larger interest of the public sector would be fully protected.
'With the deployment of a higher degree of mechanisation, awarding contractual mining to MDOs and operational efficiency, we feel confident of achieving the desired target.'
India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.
Bankers claim they have received good response to the roadshows held abroad for Coal India, IndianOil and PowerGrid.
Trade unions on Tuesday began a five-day coal industry strike, terming it as the biggest industrial action for any sector since 1977.
These three blocks figure in the 'Schedule I' list of those coal mines, which are being auctioned afresh
India is growing fast, but to keep growing strong, the government must make more things at home, create jobs, and spend money wisely, suggests Rajiv Memani, regional managing partner, Africa-India Region, EY.
M Veerappa Moily's takeover of the environment & forests ministry last month, it appears, is turning out to be a blessing for Coal India Ltd (CIL), the world's largest coal producer.
Currently, 23 power units with a cumulative capacity of 30,000 MW have super critical coal stock situation A lack of synchronised approach between the concerned ministries and power plants, has led to this crisis, says Shreya Jai.
The company bought peace with the Union coal ministry by agreeing to almost halve its e-auction sales at 30 million tonnes this year, to make more coal available for the fuel-starved power sector.
India is unlikely to see a repeat of the 2021 energy crisis this festive season as coal-fired power stations across the country have comfortable levels of the fuel stock to meet electricity demand of the world's fastest expanding major economy.
The government on Thursday fixed Rs 358 a share as the floor price for up to 10 per cent stake sale in Coal India on Friday, which may help the exchequer garner about Rs 22,600 crore (Rs 226 billion) in the biggest sale of shares.
Prime Minister Manmohan Singh may intervene in the discussion on several files pertaining to coal block allocations going missing, Minister of State for Parliamentary Affairs Rajeev Shukla said on Thursday.
As of now, only Indian power, steel and cement companies can mine coal for their own consumption.
The matter has now been escalated and the ministry has written to Customs, Bureau of Indian Standards (BIS) and the Directorate of Revenue Intelligence (DRI) to investigate it thoroughly.
This was perhaps a missed opportunity for India to spotlight a core domestic challenge: The scale of workforce preparation required for a young, populous, rapidly growing country seeking to reach net zero, points out Radha Roy Biswas.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances