Power firms can pass on burden to consumers, stocks rise up to 2%
Amidst the storm over CAG report on coal block allocation, the Prime Minister's Office has expressed displeasure over inaction by the Coal Ministry in cancelling blocks where mining has not taken place and asked it to expedite the matter by September 6.
The government on Thursday suspended chairman and managing dof Coal India Limited N K Sharma on alleged charges of corruption during his tenure, official sources said in New Delhi.
The incident took place when some people from nearby villages were collecting coal from the "over-burdened" dump yard located near the mining area.
The victim was allegedly murdered and later burned in a coal furnace in a village of the Bhilwara district, with locals claiming that she was also gang-raped.
The Supreme Court is expected to deliver its final verdict on coal mine allocations later this week.
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.
Adani Power bagged Jitpur mine in Jharkhand.
The mine got the sign-off from Environment Minister Greg Hunt in October after the company cleared concerns about two rare outback species
However, Adani Australia has clarified on its Facebook page on Monday that in terms of quality of the coal it is almost 50 per cent better than that used domestically.
Dismissing allegations of corruption against Prime Minister Manmohan Singh levelled by Team Anna, Coal Minister Sri Prakash Jaiswal on Sunday said all decisions on allocation of coal blocks were taken with the consent of the state governments in a transparent manner.
The states will get over Rs l lakh crore.
The PM-elect wants to fix the coal sector; cut coal imports by boosting output.
JSPL, Tata Power, Monnet Power, Jindal Photo in the dock.
State behemoth Coal India, the world's largest coal miner, has failed to raise its output fast enough to meet demand, and millions of Indians still go without power.
Realistically, coal will be the major fuel for electricity generation in India, as in America, for a long time.
At the Silkyara tunnel in Uttarkashi, at least 12 experts have been called by Trenchless Engineering Services Private Limited and Navayuga Engineers Private limited for applying the rat-hole mining technique horizontally in the collapsed part of the main structure.
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.
The first lot of 74 mines will be auctioned to specific end-users and allocated to state-owned entities by March.
The Central Bureau of Investigation on Friday registered another preliminary enquiry in the alleged coal scam against unknown people for allocation of coal blocks to joint venture companies which included a private player.
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.
Production of eight infrastructure sectors recorded an almost flat growth rate of 6 per cent in February as against 5.9 per cent in the same month last year, according to official data released on Friday. The growth in February is lowest in the last three months. The output of core sectors had increased by 8.9 per cent in January 2023 and 7 per cent in December 2022.
This includes distancing themselves from the new and emerging super-critical technology.
Parliament in the Australian state of Queensland agreed on Tuesday that India's Adani Enterprises Ltd should be granted "all state government approvals" to build one of the world's biggest coal mines.
The allocations followed two stages.
The five warmest years in Indian weather history have occurred in the past 14 years -- the others being 2009, 2017 and 2010, in order of intensity.
The government will now auction 23 mines, instead of 24
With the case of missing files into the coal block allocation turning murkier, the CBI is mulling filing FIR on the issue for which officials of the agency and the coal ministry are likely to meet soon.
This is the first coal scam case in which the special court has delivered its judgement.
The government on Friday issued fresh show cause notices to prior allottees of coal blocks like JSPL, JSW and Tata Steel, asking reasons behind delays in mines development and warned of deduction in their bank guarantees if they failed to furnish replies.
'The UK is more of a structural problem, and that's why we're doing the restructuring.'
Power and Coal Minister Piyush Goyal warned that it would take years to alleviate coal supply shortages, which have reduced stocks at thermal power stations to their lowest since a huge blackout in 2012 cut off 620 million people.
Hindalco's first quarter (Q1FY23) results indicate healthy domestic volumes for aluminium and copper, and lower cost of production. Subsidiary Novelis saw weak volume trends but it managed to push operating profit margins on a better mix and pricing hikes. The weak global outlook on aluminium is a cause for ongoing concern.
Ministry seeks more active role by state governments to address issues.
At least 26 workers were killed and 50 others injured when a major fire engulfed a coal mine in China's north-eastern Liaoning province on Wednesday soon after a mild earthquake jolted the region, in one of the worst mine accidents in the country in recent years.
The Central Bureau of Investigation could question Odisha Chief Minister Naveen Patnaik in connection with alleged irregularities in allocation of coal block to Hindalco as he had written a letter to the Coal Ministry after application of the Aditya Birla company was rejected in 2005.
The Centre has stopped allocating coal blocks to state governments till the Mines and Mineral (Development & Regulation) Act is implemented with the amendments.
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