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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and the hike could be effected “very soon” as discussions are underway with stakeholders.
Agrawal also said he is confident the mining behemoth would achieve its production target of 1 billion tonnes by 2025-26 (FY26).
“There is a strong case for increasing coal prices, as that has not happened in the past five-odd years. This year, the wage negotiation has taken place as well. This will have an impact on CIL’s financial condition, especially for a few subsidiaries like Eastern Coalfields, Western Coalfields, and Bharat Coking Coal where the cost of manpower is very high. There will be a lot of problems if prices are not hiked,” Agrawal said at the Indian Coal Markets Conference here organised by mjunction.
The last price hike by the state-owned miner was in January 2018 — it was a little over 10 per cent.
“It is such a critical thing for the economic development of the country that it cannot be increased unilaterally,” he, however, added.
Asked when a final decision was likely, B Veera Reddy, director (technical) and director (finance)-additional charge, CIL, said, “There are a lot of stakeholders and the power ministry… we need to reach a consensus. We are in discussions with the Ministry of Coal.”
Even as it weighs in on the possibility of a price hike, CIL is stepping up production.
This year, it is on course to achieve 700 million tonnes (mt).
The target for next year is being kept at 780 mt. The additional 80 mt for next year is a “stiff target”, but CIL is committed to meeting the requirements of the nation. By FY26, it will reach the 1-billion tonne production target.
But it will hinge on factors like the need of the country and the growth of the private sector, said Agrawal.
“If not 1 billion (tonne), I am hopeful that the requirement would be in that range because our coal is one of the cheapest in the world,” he added.
Captive/commercial coal mine
The country is eyeing increased production from mines auctioned for captive and commercial use. Joining the conference virtually, Coal Secretary Amrit Lal Meena said this year, the share of captive/commercial would be 15 per cent of total coal production of the country.
Last year, production was 89 mt. This year, it is likely to be 112 mt. “In the next two to three years, we are hopeful that commercial and captive mines will increase production,” said Meena.
The target for 2023-24 from captive/commercial is 161 mt.
He said the ministry is working on a strategy to enhance the production of coal, so that not just the power sector but all other sectors of the economy have adequate coal and possibly think about exports.
Source: Business Standard
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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
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