CIL drops as arm may face Rs 20,000 crore penalty
Following the development, the stock fell 3.27 per cent to hit a low of Rs 258.5 on BSE.19-09-2017
CIL drops as arm may face Rs 20,000 crore penalty
Following the development, the stock fell 3.27 per cent to hit a low of Rs 258.5 on BSE.CIL asks pithead plants to use road network to increase rake availability
After coal shortage in power generation has staged a comeback with four of them entering the critical and another 12 entering the super critical category in mid-September, Coal India has devised a plan to address the shortage problem asking short distance power plants to use the road ferrying network so that railway rakes can be made available for the thermal generating stations at longer distances.A Coal India official said that to free up railway rakes for longer distance plants, generating stations located within 60 kms from the pitheads (pithead plants) can lift coal as much as they wish (as per the fuel supply agreement) and transport it via trucks which will be cost effective."Usually railway freight costs are higher for short distance while it is cheaper for long distances. Previously, there was a mix between railway and road transport for ferrying coal to plants which are short distance. Now, road transport will be given priority", a company official said.Typically, each...Coal India in reversal mode
The stock has been trending up over the last two weeks, with good volumesCoal India upbeat over metals mining venture, wants to go it alone
---Drop the pointer table ---Coal India's decision to reposition itself as a holistic energy entity and harness its strength in mining by diversifying into metals will place the government-owned major in a league with global miners like Glencore, Rio Tinto, BHP, Vale and others.A consultant has been hired to do a study on how the company can modernise and adapt to current trends.The metals mining move will also help it hedge against the impact of renewable energy. As India, in line with other countries, moves towards 'clean' and renewable energy, the dependence on thermal power would decline. This means less demand for coal. Coal India itself estimates the share of coal in commercial energy supply would go from 55 per cent in 2015-16 to 48-54 per cent by 2040. "Hence, it is natural for a company solely dependent on coal sales to branch out and diversify into mining of other metals, where demand is likely to remain stable," says Partha Bhattacharyya, past chairman of Coal India.Around .Volatility in open market power tariff set to reduce with rise in fuel supply: Coal India
With more rakes being despatched, stock position to improveCoal India nears coking coal asset acquisition in Australia
On the lookout for acquisition of coking coal assets abroad, government-owned Coal India is in an advanced stage of talks with an Australian coal mining company based out of Queensland, where it plans to acquire substantial stake.In this regard, Coal India had floated a closed tender for empanelled merchant bankers, of which PwC and Ernst & Young have shown interest, to carry the transaction forward."The Australian company had asked us to revert after appointing a merchant banker and the tender to select one is in an advanced stage," a senior Coal India official told Business Standard. He said they'd take a "substantial stake", most likely 20-25 per cent at least. A hoc budget of Rs 6,000 crore has been okayed, for now, to take the transaction forward.Without revealing the name of the Australian miner, Coal India sources said the former has six licenses for mining under the application stage and one licence had been granted to it by the Australian authorities.For taking the equityCoal India may diversify into mining metals
The country's largest miner Coal India may look at diversification of other metals like copper and nickel through overseas mines, its Director (Marketing), SN Prasad, said. According to him, the...Addendum To Notice Of 43Rd AGM Of Coal India Limited For 2016-17
Addendum to Notice of 43rd AGM of Coal India Limited for 2016-17