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