“If you look at the coal sector also...more than 1,400 people have requested or shown their interest in the last 15 days, which is a great thing. I think it will bring down our imports by more than 60 per centin the coal sector,” Thakur said. The minister was speaking at an online conference hosted by the Confederation of Indian Industry (CII) on Friday.
Lucas Dow, who joined the company in April 2018, steered the Carmichael mine and rail project through a drawn-out and hotly contested permitting process, and then its first year of construction. The project has provoked bitter controversy in Australia because it would open up a new thermal coal basin at a time of growing concerns over global warming.
Its investment was 4.2% more than in the same quarter last year, despite the lockdown. Subsidiaries South Eastern Coalfields, Northern Coalfields and Central Coalfields accounted for 81% of the capital expenditure for the quarter.
"It is noted that the employees...have participated in this illegal strike, which is violation of rule 26.10 of the certified standing orders of the MCL. In view of this misconduct on their part, eight days wage deduction as per section 20 of the Code on Wages Act, 2019, is hereby ordered for this act of participation in the illegal strike," Mahanadi Coalfields Ltd (MCL) said in a notice.
As part of the initiative, Prakash Kumar Singh, former Chairman and Managing director of Steel Authority of India Limited, has joined Vedanta’s Electrosteel Steels Limited (ESL) as President – Growth Project. It also said Jitendra Kumar Dadoo who retired as a Secretary to Government of India in December, 2017 has been appointed as a Senior Advisor.
“Though operations were subdued to a certain degree, performance of the company was better than anticipated during the strike. Workers’ attendance progressively increased from the first day of the strike over the three-day period, averaging close to 36%,” said an executive of the company.
CIL in a statement said that despite the strike "the coal miner managed 44 per cent of coal output, compared to the average of 10 days immediately prior to the first day of the strike". The attendance of the employees progressively increased from the first day of the strike over the three-day period, averaging close to 36 per cent, it said.
A company executive said that during the strike, sales fell 39%. The company was unable to sell 2.6 million tonnes, which is worth at least Rs 400 crore. Unions have called for the next strike on Aug 18, which is the last date for submitting bids for commercial coal mining.
The unions, including RSS-affiliated Bharatiya Mazdoor Sangh (BMS), of Coal India have also decided to go for a day's strike on August 18, the last date for submitting bids for the auctioning of 41 blocks.
The average daily production by the PSU on the three days was 5,73,000 tonnes, which is 44 per cent of the last 10 days' average production (from June 22 to July 1) of 12,96,900 tonnes, the official said. The coal ministry official said production could take place even on strike days as Coal India employs around one lakh contract workers.
Five trade unions, including RSS-affiliated Bharatiya Mazdoor Sangh (BMS), of Coal India (CIL) have been on strike since Thursday to protest against the government's decision to start commercial coal mining.
Prices initially fell up to 10% in January after the outbreak of Coid-19 in China, which was followed by steady prices in the following month and by 15%-20% in March and April as the disease spread, the agency said. Prices have recovered by 10%, 13% and 27% for aluminium, zinc and copper respectively in the last two months, it said.