In liberalised coal mining regime, Coal India seeks advantage
The projected liberalisation of the coal sector has opened up a new scope for Coal India27-03-2017
27-03-2017
Board declares Second Interim Dividend
Coal India Ltd has informed BSE that the Board of Directors of CIL in its meeting on March 26, 2017 have approved payment of 2nd Interim Dividend for the financial year 2016-17 @ Rs. 1.15 per share of the face value of Rs. 10/- as recommended by the Audit Committee of CIL in its meeting held on date.The date of payment of 2nd Interim Dividend is on and from March 31, 2017.26-03-2017
CCI slaps 591-crore penalty on Coal India
For imposing unfair conditions in fuel supply pacts with the power producers24-03-2017
Updates
Appointment of Shri Vinod Jain, Independent Director, CIL on the Board of South Eastern Coalfields Limited (SECL) Material Subsidiary Company as Independent Director23-03-2017
Notice For Board Meeting/ Record Date For 2Nd Interim Dividend.
Notice for Board Meeting/ record Date for 2nd Interim Dividend.23-03-2017
Odisha's coal revenue slides as MCL struggles to meet output target
After posting a consistent rise in four years from 2012-13 to 2015-16, coal royalty collection in Odisha has witnessed a slide in this fiscal with Coal India's biggest producing subsidiary Mahanadi Coalfields Ltd (MCL) struggling to meet its targeted coal production.Coal revenue collection in the state in Odisha was Rs 1384.52 crore by the end of February. Last fiscal, the royalty collection stood at Rs 1627.27 crore. Royalty collection from coal has progressively rose from Rs 1245.24 crore in 2012-13 to Rs 1378.58 crore in 2013-14 and to Rs 1439.17 crore in 2014-15.MCL has a target to produce 167 million tonne (mt) of coal out of Coal India's total output of 598 mt pegged for this fiscal. But, sporadic halt in work at some of its key mines might pull down actual output. The Ministry of Coal, taking note of the hit in production, estimates that the shortfall in production by MCL could be in upwards of 20 mt in this fiscal.Coal secretary Susheel Kumar has conveyed to the Odisha chief ..20-03-2017
Jharkhand discom clears 1,300-cr dues to DVC, Coal India
Mining leases for auctioned coal blocks to be executed in 2 months19-03-2017
Coal India to seek EoI for coal to liquid project
Coal India today said it has agreed to float an expression of interest for Coal to Liquid (CTL) project.We have authorised Central Coalfield to float EoI for a CTL project at Chatra, Coal India...18-03-2017
Rs 16.6k-crore payout to erase 44% net worth of CIL
In its bid to implement the DIPAM (Department of Investment and Public Asset Management) guidelines in the Interim Dividend payout on Wednesday, world's largest coal miner, Coal India may be overstretching itself by parting with about 43 per cent of its cash reserves which will effectively erode the company's net worth by 44 per cent.While the DIPAM guidelines, which Coal India is implementing this year, mandates a minimum five per cent of its net worth or 30 per cent of its net profit to be given out as dividend, the coal behemoth, as per company estimates, is expected to pay a Rs. 16,600 crore Interim dividend. In this case, this amount will mean a decline of 44 per cent in its net worth or a payout of 2.6 times its net profit - both far exceeding the minimum benchmark of the DIPAM guidelines.As per Coal India officials, the company's cash reserves is estimated around Rs. 38,000 crore and analysts said the company's net worth stood at Rs. 37,300 crore as on September 30, 2016.The...15-03-2017
Coal India shares fall sharply on possibility of missed targets
A Coal India official, citing "serious problems" at the Mahanadi coalfields (MCL), told PTI that the company may miss its production target by 20 milllion tonnes. Coal India, the official noted, may end up producing up to 578 million tonnes this fiscal as opposed to the earlier target of 598 MT, due to a string of issues including lower offtake, inventory management challenges, and so on. The news contributed to a sharp fall in Coal India's prices today, with shares down 6.63% at market close. The Mahanadi coalfields have been a continuing problem for CIL over resettlement and rehabilitation of the people who used to live on the land. Coal India had tried to address this by increasing the compensation for displaced families from Rs. 10 lakh to Rs. 16 lakh end of last year. Based on the latest numbers however, an estimated 5,000 people in the area are awaiting resettlement. The Odisha government wants Coal India to start mining only once the resettlement issues are settled.14-03-2017