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