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Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
 PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping seams exposed removing the top soil so that coal can be extracted as soon as the demand picks up.
OBR is an integral part of coal mining and the first stage in the process. Through exposed seams it can be easily estimated how much of coal has actually been mined, a CIL official told FE.
CIL has already been flushed with pit head stock and reserves at the power plants are at an all time high. As of April 1, this year, pit head stocks are 75 million tonne (MT) while reserves at power plants are 50 MT, maintaining over 30 days stock above the required level of 22 days as mandated by the Central Electricity Authority. So, extracting further coal from the mines and creating a huge stock pile would endanger the mines with chances of catching fire.
So, CIL for now is only exposing seams keeping coal ready for extraction as soon as the demand picks up. The company has also started reporting growth in terms of OB removal. CIL has kept a target of producing 710 mt for FY 21, which is huge jump from the 602 mt it has achieved this fiscal. CIL fell short of target by 58 mt during FY20 but in FY21 it wants to remain on target, for which it has concentrated on speedy OB removal, a CIL official said.
OB removal grew 10.4% during May, against OB removed during April this year, while production of coal and off take grew by 2.6% and 2.3%, respectively on a month-to-month basis. The miner as a whole produced 41.43 mt of coal in May compared to 40.38 mt in April.
Amid a crippled demand, coal sales expanded 0.9 mt during May in terms of volume. Offtake was up at 39.95 mt during May as compared to 39 mt in April.
Non-power sector, which always starved of coal showed an impressive growth of 37.3% in off take during May with supplies in absolute terms at 9.76 mt. These are positive signs of CIL ramping up production, a CIL official said, adding though demand for coal was yet to pick up.
Source: Financial Express
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Monday, 18 May 20
THERMAL COAL SPOT PRICE TUMBLES 25 PER CENT, PUTTING PRESSURE ON SOME PRODUCERS - ABC RURAL
The spot price for thermal coal has fallen 25 per cent per cent in the past month with one leading analyst saying it is because of a reduction in d ...
Monday, 18 May 20
CHINA'S COAL OUTPUT UP 1.3 PCT IN JANUARY-APRIL: XINHUA
Output of raw coal in China rose 1.3 percent year on year to 1.15 billion tonnes in the first four months this year, official data showed.
&nbs ...
Sunday, 17 May 20
A 55,000 OPEN ILIGAN FIXING AT $6,500 VIA INDONESIA REDELIVERY INDIA - BALTIC BRIEFING
Capesize
A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the ...
Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
China’s coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of ...
Thursday, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements
Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...
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