Met coal imports from Russia jump nearly three-fold in last 3 fiscals
India's metallurgical coal imports from Russia have increased by three-fold in the last three years, reaching 15.1 million tonnes in 2023-24, mainly due to lower prices. This increase is attributed to lower prices, which are cheaper for domestic steel players. Australia, a major supplier of met coal to India, has seen a decline in its exports to India. The rise in imports is attributed to cost-benefit reasons, as imports from Russia are costing less to domestic steel players. Key Points
Economic TimesBaltimore bridge collapse may impact supply chains in APAC region, Moody's Analytics report shows
The collapse of Baltimore's Francis Scott Key Bridge may impact trade in the Asia-Pacific region, according to Moody's Analytics. The incident, which involved a container ship colliding with the world's third-longest truss bridge, is expected to have a significant impact on the automotive sector and coal markets. Key Points
Economic TimesAfter 'Oppenheimer', Cillian Murphy stars in Univeral Pictures' adaptation of 'Blood Runs Coal'. Know abou
Cillian Murphy and Alan Moloney will produce 'Blood Runs Coal' via Big Things Films, while John Davis and Jordan Davis will produce via Davis Entertainment. Bradley Coopers will executive produce it. Key Points
Economic TimesCoal, the dirtiest fossil fuel, is preparing for a long goodbye
Thanks to a combination of Chinas energy insecurity — pushing Beijing back to trusted power sources — plus rising Indian demand, the continued fallout from the war in Ukraine and faltering international programs to wean developing economies off fossil fuels, coal is proving remarkably resilient. Output hit a record last year, and producers are preparing for a future where they will be required for decades yet to balance renewable energy. Key Points
Economic TimesPM Gati Shakti National Master Plan launched for coal sector
The coal database has 74 geographical information system-based layers on the PM Gati Shakti portal under categories such as coal block, coalfield boundary and land asset data, which will provide stakeholders with infrastructure information. The information on coal mining projects can be used for planning and executing projects in the sector for timely completion, according to the ministry. Key Points
Economic Timescoal PSUs achieve over 106% of capital expenditure target for 2023-24
New Delhi [India], March 9 (ANI): State-owned companies operating in the coal sector have made capital expenditure spending worth Rs 22,448 crore as of February of 2023-24, overshooting the target of Rs 21,030 crore. “By Feb 2024, coal PSUs have already surpassed the FY 2023-24 target by making record capex of Rs 22,448.24 Cr i.e. […] Key Points
ThePrintIndian government panel backs higher carbon tax on coal imports
Coal is among India's top five commodity imports by value. Despite surging domestic production, mainly of low-quality coal with high ash content, it has failed to cut back on imports and ranks as the world's second largest importer. Key Points
Economic TimesGovt carried out coal auctions after tweaking rules, alleges Cong citing CAG reports
The opposition party also asked why no action was taken by the government and the prime minister on letters by two BJP leaders raising concerns over the coal auctions. It further asked whether the government would order an ED investigation into the matter. Key Points
Economic TimesPM Modi to inaugurate South Eastern Coalfields' three projects in Chhattisgarh on Saturday
Prime Minister Narendra Modi is set to inaugurate three First Mile Connectivity (FMC) projects of South Eastern Coalfields Ltd (SECL) in Chhattisgarh. The projects, valued at Rs 600 crore, aim to reduce dependence on coal transportation through roads, thereby reducing traffic congestion, road accidents, and environmental impact. The Dipka Open Cast Project, a coal handling plant with an annual capacity of 25 million tonnes, will be inaugurated. Key Points
Economic TimesNotified price for coal gasification soon: coal Ministry
The Ministry of coal is planning to offer coal at a notified price for coal gasification projects to boost the sector. This move aims to ensure that the industry does not face a shortage of coal. coal gasification is a process that converts coal into synthesis gas, which is cleaner than coal combustion. The Union Cabinet has approved a coal and lignite gasification programme with viability gap funding worth Rs 8,500 crore for both public and private sectors. Key Points
Economic Times
JSW Steel in talks for $1 billion stake in Australia's Blackwater coal mine
“Two parties – one from Japan and one from India – may be about to surface as buyers of a stake. While the identities are unknown, sources pointed to steel producer JSW Group of India or Nippon of Japan,” the Australian Mine Safety Journal reported. Key Points
Economic TimesA billion-dollar coal deal in JSW Steel's sights
The companies are yet to decide on the final valuation. If the parties reach an agreement, a deal is likely by the end of March. Key Points
mintcoal India Limited appoints Mukesh Agrawal as director of finance
Mukesh Agrawal has been appointed as the new director of the finance division at coal India Limited (CIL), effective from February 8, 2024, for a term of five years. He will succeed Debasish Nanda in this role. Nanda previously served as the Director of CIL's Business Development department and also held additional responsibilities as Director of the Finance division. Before assuming his current position at CIL, Agrawal served as the Executive-Director of Neyveli Lignite Corporation Limited, a prominent lignite-producing company based in Tamil Nadu, which also has significant operations in thermal and renewable energy generation. Key Points
Economic TimesThe interim budget features hits and misses on climate pathways
It has worthy initiatives. India’s carbon reduction must go by hard-nosed realism so that we don’t back-load climate action. Key Points
mintIndia's coal production rises 10 percent in January
India Business News: The country's coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal. India's coal producti Key Points
Times Of India
India may launch carbon capture policy to exploit vast coal resources
India plans to launch a carbon capture policy to address its growing emissions while still utilising its vast coal resources. The policy, set to be unveiled later this year, will provide incentives for companies to trap, recycle, and store their emissions underground. The power sector, responsible for 42% of India's emissions, can potentially capture and recycle 70% of its emissions through carbon capture. India aims to use coal in a sustainable way and is exploring coal gasification technology as well, which has marginally lower emissions compared to conventional coal firing. Key Points
Economic TimesCabinet okays Rs 8500 crore for coal gasification
The Union Cabinet approves a ₹8,500 crore viability gap funding scheme for coal gasification projects. The funding will be given in three categories, including grants for government-owned projects and bids for public and private companies. The scheme aims to produce synthetic natural gas, dimethyl ether, and ammonium nitrate from coal. Key Points
Economic Times10 killed in coal mine accident in China
Coal and gas explosion happens around 2:55 pm in Pingdingshan. 10 people were killed and six others missing after an accident in a coal mine in central... Key Points
The Tribune IndiaNational coal Price Index declines 17.54 pc in November 2023
New Delhi [India], January 10 (ANI): The National coal Index has shown a significant decline of 17.54 per cent in November 2023 at 155.09 points compared to November 2022, where it was at 188.08 points, which indicates a strong supply of coal in the market, with sufficient availability to meet the growing demands. The National […] Key Points
ThePrintShould we expect inline performance from IT majors in Q3? Mahantesh Sabarad answers
Mahantesh Sabarad says: “A mixture of events that has caused this underperformance on HDFC Bank overall. And within that mixture one cannot wish away what is happening to the banking sector per se. The banking sector is now on a high in terms of credit growth. The YoY credit growth number is upwards of 16% thereabouts.” Key Points
Economic Times
India's coal import strategy shifts as power plants adapt to domestic supply surge, marking a 44.3 per cent drop in blending imports
As per S&P Global, despite this reduction, the country experienced an 11.2 per cent surge in coal-based power generation during the same period, reaching 779.1 billion units. Key Points
Hindustan TimesWhy India’s coal dependence is unlikely to end soon despite COP28 vow to wean itself off fossil fuels
Coal accounts for 75% of energy generated in India, with govt not decommissioning any existing capacity & in process of adding more. Renewable energy also too expensive at the moment. Key Points
ThePrintAustralia continues to be India’s top source of steel making coking coal
According to Kulaste, coal India Limited (CIL) has planned to increase raw coking coal production from existing mines by up to 26 million tonnes (MT) and identified ten new mines with Peak Rated Capacity (PRC) of about 22 MT by financial year 2024-25. CIL has also offered eight discontinued mines under a revenue sharing model to the private sector. Key Points
Economic TimesAverage power cost up 71 paise in FY23: power minister
Union minister for power R.K. Singh. attributed the increase in cost to a rise in various early-stage expenditure including increases in transmission and distribution costs Key Points
mintMinistry of coal achieves unprecedented milestones: Record coal dispatch and production surge in November
New Delhi [India], December 2 (ANI): The Ministry of coal has reported unprecedented achievements in coal production and dispatch from captive and commercial coal mines during November 2023. According to a press release by the Ministry of Coal, the figures reveal remarkable growth, with coal production reaching 11.94 million tonnes (MT), reflecting a substantial 37 […] Key Points
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coal will remain an important part of India's energy needs: govt official
Coal will remain India's main source of energy for years to come, a top government official said on Thursday, underscoring its commitment to the use of the fossil fuel as the U.N.'s COP28 climate summit opens in Dubai. Key Points
ReutersKarnataka to import 2.5 lakh tonnes of coal at $86 per tonne
The state has given an order for 2.5 lakh tonnes of coal. We have issued orders by calling tenders. We will not disclose from where it will be brought. It will be imported coal, which generally comes from Indonesia. The rate is 86 USD per ton, Gaurav Gupta said at a press conference. Key Points
Economic TimesExclusive: EBRD backs 4 bln euro plan to wean North Macedonia off coal power
International lenders including the European Bank for Reconstruction and Development and the World Bank are backing a 4 billion euro ($4.35 billion) plan to wean North Macedonia off coal-fired power, the head of the EBRD told Reuters. Key Points
ReutersIndia's coal import rises 4% in September
India Business News: India's coal import rose by 4.3% in September compared to the same month of the previous fiscal year, reaching 20.61 million tonnes. Non-coking coal i Key Points
Times Of IndiaDiwali 2023 -Coal India, top gainer during Diwali mahurat trading session, share price rises up to 4.1%
Share price of coal India gained up to 4.1 % at the start of Mahurat trading session. coal India had reported a strong performance during September quarter with 9.85% increase in revenue and a 12.51% increase in profit year-over-year. Key Points
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India to remain export market for coking coal; rising prices remain a concern: Industry body ISA
According to steel industry body, ISA, India will continue to be the top export destination for coking coal in the foreseeable future. The local steel industry is being impacted by rising prices, and the Indian steel sector is looking for sustainable ways to use coking coal. India is the biggest importer of met coal . Key Points
Economic TimesSECL achieves record 100 MT of coal dispatch with 17.5pc growth in FY'23
Kolkata, Oct 29 (PTI) South Eastern Coalfields Limited (SECL) announced on Sunday that it had surpassed 100 million tonnes of coal dispatched for the current fiscal year, achieving a growth of 17.65 per cent over the previous year when the coal India subsidiary dispatched 85 million tonnes of dry fuel. Of the total dispatch, more […] Key Points
ThePrintcoal dispatch may exceed one billion tonnes this fiscal: coal ministry
The Indian coal ministry expects coal dispatch to exceed one billion tonnes in the current fiscal year, according to a statement. The ministry has set a target to produce and dispatch 1,012 million tonnes of coal, and it anticipates that the second half of the year will see a higher rate of production and dispatch. In the previous fiscal year, 500 million tonnes of coal had been dispatched by 9 November, while this year the same mark was achieved on 17 October, 23 days earlier. Key Points
Economic Timescoal India share price hits fresh 52-week high, up 54% in 7 months; is it still buy-worthy?
Coal India share price hit its fresh 52-week high on Thursday. It hit its 52-week low of ₹207.70 on March 27 this year. In about seven months, the stock has surged 54 per cent. Key Points
mint400,000 coal staff, mostly in India & China, to lose jobs as world shuns the dirty fuel
A new report from Global Energy Monitor predicts that the transition away from coal in the energy system will result in the loss of 100 mining jobs per day through 2035, mostly in China and India. By 2050, the global coal mining job losses are expected to rise to nearly 1 million, as wind and solar power become more affordable. To mitigate the social impact of layoffs, the report suggests giving ex-miners priority for job opportunities related to mine shutdowns, such as land rehabilitation and environmental mitigation. Key Points
Economic Times
coal India can deliver all-time high dividend of Rs 30/share in this fiscal: Nuvama
In the current global scenario, coal India (CIL) is a pure domestic play potentially offering the triple benefits of volume growth, improved e-auction prices and possibly all-time high dividend in H2FY24. With the monsoon receding and hydro/wind generation falling, demand for thermal power is set to rise further in H2FY24, the Nuvama note said. Key Points
Economic TimesIndia's coal imports decline 12 pc in August
India's coal imports in August fell by 12.08% to 18.26 million tonnes compared to the same month last year, according to data from mjunction services ltd. Overall coal imports between April and August also dropped by 10.3% to 103.93 million tonnes. The decline in imports is due to increased domestic availability, which has risen by around 10%. Non-coking coal imports fell by 20 million tonnes during this period. Key Points
Economic TimesStocks at power plants likely to dip further: coal Secy Amrit Lal Meena
Recent heavy rainfall in eastern Chhattisgarh, Uttar Pradesh, Odisha, and West Bengal has impacted coal production and dispatch, potentially reducing coal stocks at domestic coal-based power plants to 20 million tonnes. However, the situation is not critical, and stocks are expected to increase from mid-October. coal India Ltd's subsidiaries have experienced a slight decrease in stocks, leading to fuel diversion from other areas. Despite the rain, transportation from Mahanadi Coalfields Ltd has been better, and other coal companies are operating normally. Steps have been taken to address logistical constraints, including improved transport infrastructure and increased wagon availability. Key Points
Economic TimesNTPC’s coal production rises 83 pc in first half of 2023-24
New Delhi [India], October 3 (ANI): Power producer NTPC reported an 83 per cent growth in coal production from its captive mines during the first half of the financial year 2023-24. The company achieved an impressive coal production of 16.05 million metric tonnes (MMT) during the said period as compared to 8.76 MMT same timeline […] Key Points
ThePrint‘Non-power sales rise is positive for CIL earnings’
Coal India’s first half FY24 production at 333 MT rose 11.3% year-on-year while total supplies also shot up to 360.7 MT during first half, marking 8.6% y-o-y growth. Key Points
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CIL's coal supply to power sector rises 3.4 pc to 294.8 MT in H1
Compared to the high base of same period last fiscal, the volume increase was 9.7 MT, or 3.4 per cent. This could have been higher if the logistics were eased out and intake not regulated by few consumers, CIL said in a statement. Key Points
Economic Timescoal India posts Q1 profit fall on higher wage provisions
Coal India (COAL.NS)reported a fall in quarterly profit for a second straight quarter on Tuesday, as the world's largest coal miner made higher provisions for wage hikes. Key Points
Reuterscoal CPSEs to scale up renewable energy capacity to 7231 MW by 2027
Coal PSUs have planned to scale up their total installed renewable energy capacity to 7,231 megawatt (MW) by 2027, an official statement said on Thursday. About 1,600 MW of renewable capacity has already been created till March 2023, by the PSUs coal India Ltd (CIL), NLC India Ltd (NLCIL), and Singareni Collieries Company Limited (SCCL). Key Points
Economic TimesIndia's Adani Enterprises Q1 profit jumps on strong new energy business
India's Adani Enterprises (ADEL.NS) on Thursday reported a 44% rise in first-quarter profit, as performance at its new energy division outpaced a weak growth in the key coal trading division. Key Points
ReutersNational coal index records steep fall, hints at sufficient fuel stock
The National coal Index combines coal prices from all sales channels, including notified prices, auction prices and import prices. Established with the base year as fiscal year 2017-18, it serves as a reliable indicator of market dynamics, providing valuable insights into coal price fluctuations. Key Points
mint
JSW Steel MD on lowering debt, eyeing Vedanta’s mining assets & more
“We expect better numbers in spite of the fact that we will merge JSW Ispat. Necessary approvals have been obtained and we would merge it in Q2 and that would add some debt but in spite of that, we are confident of being able to get it down below what it stands in quarter one today.” Key Points
Economic TimesIndia's coal mining bet stumbles as wary banks weigh rising risks
India's drive to ramp up coal output to meet growing energy demand is faltering due to banks' reluctance to finance newly auctioned mines, though most lenders remain far from ditching fossil fuels for good, analysts and officials said. Of the 87 mines auctioned to private companies in the past three years in a push called Unleashing coal - part of India's energy self-sufficiency plans - only four are operating, with the rest awaiting financing, a federal coal ministry official said, asking not to be named. Key Points
Economic TimesIndia planning $1.5 bln industrial water transport corridor in east- sources
Coal India Ltd (COAL.NS), a government-owned port, and a state waterways body, are together considering investing up to 120 billion rupees ($1.46 billion) to establish an industrial water transport corridor in the country's east, two government sources said. Key Points
ReutersMahanadi Coalfields to provide VR-based safety, operational training to 17,000 workforce
The coal India subsidiary has earmarked a budget of ₹6.5 crore for skill enhancement among coal miners. Key Points
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