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Wednesday, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited in the H2 of the current financial year. This is to meet the rising cost of production, especially on account of the recent salary hike of employees and officers.
While officials in CIL and the Union Coal Ministry denied any such development, sources close to the development said that CIL had initiated the related spadework well before the Lok Sabha election and had proposed approximately 10% increase in prices.
Sources said that CIL has intimated the Union Coal Ministry that its annual wage bill is estimated to increase by INR 2,200 crore to INR 2,300 crore following implementation of the National Coal Wage Agreement and the Pay Commission recommendations.
It may be mentioned that soon after announcing the NCWA, the CIL Chairman indicated that a price revision was imminent, especially to ensure the viability of approximately 124 new projects.
Mr Partha S Bhattacharya chairman of CIL said “Despite our best efforts, the increase in costs may not be fully recovered by increasing production and productivity.” He, however, added that the company would take a call on this issue (price revision) after due assessment.
Meanwhile, coal prices were last increased by 10% in December 2007 after a gap of three years. According to CIL, domestic coal enjoys 50% to 60% price advantage over the landed cost of imported coal even after the meltdown.
Source:http://www.steelguru.com/news/index/2009/05/20/OTUxOTI%3D/CIL_may_urge_new_government_to_hike_coal_price.html
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Sunday, 21 June 09
TRANSPORT PROBLEMS HOLD BACK RUSSIAN COAL EXPORTS
Limited rail capacity and poor port infrastructure are frustrating the ambitions of Russia's leading coal producers to increase exports quickly to ...
Saturday, 20 June 09
MINING LICENSE PROCEDURES `PROPER' - (UPDATE 3)
All 13 coal mining firms operating in Sawahlunto, West Sumatra, complied with procedures in obtaining their licenses, authorities say, as a recent m ...
Saturday, 20 June 09
TECK SEES 2009 COAL SALES AT UPPER-END OF FORECAST
* Sees 2009 coal sales at upper-end it of prior forecast
* Says increased Chinese demand, driving brighter outlook
Teck Resources Ltd said on Fr ...
Saturday, 20 June 09
COAL OUTLOOK DARKENS AS PRODUCERS LOOK FOR PRICING FLEXIBILITY
Russia’s coal output has dropped 17% in the first quarter of the year, with slowing demand and rising tariffs adding gloom to the outlook for ...
Saturday, 20 June 09
AUSTRALIA'S NEWCASTLE THERMAL COAL PRICES FALL 7.7% TO $70.81
Power station coal prices at Australia’s Newcastle port, a benchmark for Asia, fell 7.7 percent, declining for the first time since the week e ...
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