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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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Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
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- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Planning Commission, India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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