Jindal Power bagged 2 coal mines in Chhattisgarh.
Eleven bidders, including Adani Enterprises, have shown interest in the first-ever coal import tender issued by national miner Coal India (CIL). Recently, state-owned NTPC awarded 6.25 million tonnes (mt) of imported coal tender worth Rs 8,300 crore to Adani Enterprises. CIL, in a public statement on Tuesday, said: "The prominent Indian agencies among them (11 coal importers) were Adani Enterprises, Mohit Minerals, and Chettinad Logistics. "A couple of coal exporting agencies from abroad, including one from Indonesia, have also shown interest," it said.
The government has garnered Rs 2 lakh crore by auctioning 33 blocks.
Ahead of the key meeting called by the steel ministry with the industry captains on Monday to discuss the impact of rising steel imports, companies have raised the issue of cheaper 'substandard' inflows from China, Vietnam, and South Korea, saying they are setting the benchmark for domestic prices and squeezing the profitability of Indian producers.
Union Coal Minister Sriprakash Jaiswal on Saturday admitted that some files related to the coal block allocation scam are missing.
The Indian steel industry is faced with a paradox: Rising demand and falling prices. Demand continues to surge as user industries gather pace, with the World Steel Association projecting around 9 per cent annual growth for India over 2025 and 2026, the year domestic demand is projected to be almost 75 million tonnes (mt) higher than in 2020.
The government on Monday came under sharp attack on the issue of crucial files of Coal ministry going missing, with the Opposition alleging that it was a conspiracy to save Prime Minister Manmohan Singh in the coal block allocation scam and demanding an impartial probe into it.
India's exports rose 6.7 per cent to $35.1 billion in August annually, while imports declined 10.12 per cent to $61.59 billion, according to government data released on Monday. Gold imports were down nearly 56 per cent in August, helping to trim merchandise trade deficit to $26.49 billion in August, as against $35.64 billion in the year-ago month.
Between 2007-08 and 2017-18, the number of countries they imported steam coal from has increased from six to 12.
PSUs will get direct allotment.
According to latest data (October 13) by the Central Electricity Authority, total fuel stocks at 103 coal-based stations have come down to 7.2 million tonnes.
The recommendation, if implemented, could severely dent coal miners' bottom line.
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
A Delhi court on Monday awarded three-year jail term to former coal secretary H C Gupta in a coal scam case related to irregularities in the allocation of a coal block in Maharashtra, a lawyer associated with the case said.
The United States action of levying 25 per cent additional tariff on Indian goods is 'unfair, unjustified and unreasonable', India said on Wednesday in a firm reaction, signalling increasing tensions between the two strategic partners over New Delhi's energy ties with Moscow.
Coal Minister Sriprakash Jaiswal is credited with fast-tracking many issues that are caught in red-tape. The minister says the environment ministry's controversial policy barring mining in forest areas has left him troubled.
The court noted that Gupta made 'dishonest misrepresentation' before the then prime minister.
R-Power, Essar could be hit as state mulls benefit-sharing levy for ecology loss.
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Delayed clearances for coal blocks, as well as companies' own failure in developing mines, appear to have had a financial implication of Rs 1.46 lakh crore (Rs 1.46 trillion) for the country.
Bangladesh has sought revision of a 2017 power purchase agreement with Adani Power Ltd as the price for the coal-generated electricity appeared too expensive, officials said in Dhaka on Thursday. "We have communicated with the Indian company seeking revision of the agreement," an official of the state-run Bangladesh Power Development Board (BPDC) told PTI on the condition of anonymity and without elaborating on the matter. Media reports suggested that the "high coal price" to be purchased for the Adani plant at India's Jharkhand emerged as the key factor for the dispute.
Non-mineral-rich states will benefit from tariff concessions.
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.
The Modi government's e-auction policy for coal, meant to shield the consumer against hike in electricity charges, has already led to serious allegations of cartelisation among the bidding corporates. Matters came to such a pass that the government at one point last week was considering inviting the Central Bureau of Investigation to probe the matter, reports Sheela Bhatt/Rediff.com.
The Supreme Court is expected to deliver its final verdict on coal mine allocations later this week.
Gautam Adani, promoter of Adani Power Ltd, has a reason to relax, even as the power arm of his group of companies continues to make losses for an eighth straight quarter.
Since the court had earlier questioned distribution of mining rights through the screening committee route, experts say the solution worked out would be weighed on the basis of legality.
The Coal Ministry on Monday received a total 69 applications from various PSUs
The Central Bureau of Investigation on Monday filed its first charge-sheet in a Delhi court in the coal blocks allocation case against Navabharat Power Pvt Ltd for allegedly misrepresenting facts and making "fraudulent" claims to "embellish" its applications to get allotments between 2006 and 2009.
Though the current National Democratic Alliance government has not endorsed the figure, it has not even repudiated it.
In an urgent need for its image makeover, the scam-tainted coal sector will require mammoth efforts in 2015 from the government and the corporates too.
Coal industry expert Sunjoy Joshi tells Sheela Bhatt/Rediff.com that the NDA's e-auction of coal blocks will not solve the fundamental problems that dog the industry.
Probe into alleged irregularities in allocation of Talabira-II coal blocks has gained momentum as CBI has started questioning top executives of Aditya Birla Group and were likely to quiz former Coal Secretary P C Parakh next week.
Major corporates are staring at an uncertain future after investing substantially on their projects
In 11 out of 29 coal mines successfully e-auctioned, a number of qualified bidders in the e-auction stage were from the same company/parent subsidiary company coalition/joint venture, CAG said.
The National Informatics Centre uses AI to automate document analysis and detect fraud in government departments.
Since the US, the second biggest emitter of greenhouse gases after China, has shifted in a major way to shale gas, the focus of global environmentalists' ire has fallen on India, which is the third biggest emitter, reports Darryl D'Monte.
While the SECR has cancelled 22 mail or express trains and 12 passenger trains, the Northern Railways has cancelled four mail or express trains, and as many passenger services.
Shares in Jindal Steel and Power Ltd were heading towards their biggest daily loss in almost two years on Monday.
Increasing cooperation in critical minerals will top Prime Minister Modi's agenda during his discussions with leaders of Ghana, Argentinia, Brazil and Namibia.
The US remained India's largest trading partner for the fourth consecutive year in 2024-25 with bilateral trade valued at $131.84 billion, while the country's trade deficit with China widened to $99.2 billion during the same period, government data showed. In the last fiscal, India's exports to China contracted 14.5 per cent to $14.25 billion as against $16.66 billion in 2023-24. The imports, however, rose by 11.52 per cent in 2024-25 to $113.45 billion against $101.73 billion in 2023-24.
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