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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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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
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