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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, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
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- San Jose City I Power Corp, Philippines
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- Orica Australia Pty. Ltd.
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- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
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- Attock Cement Pakistan Limited
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- The State Trading Corporation of India Ltd
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- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Romanian Commodities Exchange
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- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
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- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
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- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
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- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
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- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
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- Edison Trading Spa - Italy
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- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
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- Australian Coal Association
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
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- London Commodity Brokers - England
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- Bukit Makmur.PT - Indonesia
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- Indian Energy Exchange, India
- Chamber of Mines of South Africa
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