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Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliamentary Affairs, Pralhad Joshi said on Thursday, as reported by The Hindu Business Line.
 
According to The Hindu Business Line, speaking to reporters at the sidelines of the National Geoscience Awards 2018 prize distribution ceremony, Joshi said, “Foreign Direct Investment has been approved in the coal mining sector. This will lead to more investments and technology. This will also be a big boost to address the shortcomings we have in the coal mining sector. By December or so, we are planning to offer blocks for a 100 per cent commercial coal mining.”
 
In a bid to boost production, the centre allowed private companies to mine coal for commercial use in February 2018.
 
The Hindu Business Line further noted that, till now coal mines were auctioned with a pre-specified end-use for the coal to be mined. After inadequate response in subsequent bid rounds, the centre decided to offer an added incentive and the winners have been allowed to sell up to 25 per cent of the total coal produced in the mine in the open market. For mines being auctioned till now, it is still mandatory to use at least 75 per cent of the total coal production for the specified end-use.


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Recent News

Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...


Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...


Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...


Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...


Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...


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