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