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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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Friday, 15 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
ENERGY and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
Thursday, 14 May 09
INDONESIA 2009 COAL OUTPUT REVISED DOWN - REUTERS
* Indonesia coal output seen at 240 million tonnes in 2009
* Coal exports down 11.2 pct to 44.79 mln tonnes in Q1 2009
* Production down 1.4 pct t ...
Thursday, 14 May 09
PAKISTAN WILL IMPORT 3.2 MILLION TON OF COAL IN 2009 - SEATRADE
COALspot.com (Pakistan) - SEATRADE Group of pakistan a single largest imported coal supplier in Pakistan, forecasting Pakistan steam coal imports wi ...
Wednesday, 13 May 09
ADARO, ITM EXPECT COAL GROWTH IN 2009
Adaro, which has a market capitalization of $3.64 billion, sells to 48 customers in 18 countries worldwide, including power utilities Thai Power and ...
Wednesday, 13 May 09
COAL SUPPLY MAY BE VASTLY OVERESTIMATED - ABC SCIENCE
The world's coal supply suggests reserves may be vastly overestimated and we could be facing an unprecedented global energy crisis, according to a ...
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- Directorate General of MIneral and Coal - Indonesia
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- Heidelberg Cement - Germany
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