"CIL's production at 54.17 MT till January 27, was ahead by 5.23 MT in absolute terms on a like-to-like comparison of last year, registering a growth of 10.7 per cent, the first double-digit growth so far during the current fiscal," the filing said.
CIL will further produce one billion tonnes of coal by FY2024, it had said. The PSU is currently given the target of producing 660 million tonnes of coal amounting to 82 per cent of the country's coal output.
"A discussion paper containing the draft methodology and key bidding terms and conditions on the auction of coal mines for sale of coal has already been uploaded on the website of Ministry of Coal," coal ministry said adding that in this regard, "roundtable meetings for stakeholders' consultation" are scheduled on January 28 and 29, 2020.
The miner's comment came after the CAG of India, in a report, said that six, out of seven coal producing subsidiaries of CIL, did not formulate environmental policies as mandated by Ministry of Environment, Forest and Climate Change. The world's largest coal miner is expecting to achieve a double digit growth in production for January 2020.
At the closure of December 2019 total coal stock at power plants and mine mouth was 57 million tonnes. Stocks at pit heads stood at 25.3 million tonnes, ahead by 2.1 million tonnes than a year ago period. Stocks at power plants stood at 31.63 million tonnes, sufficient for 18 days’ consumption, more than twice last year’s stock.
India continues to invest in renewable sources of power with a focus on affordability, security and environment. Despite the ‘must run’ status of renewable power, wind and solar projects still faced large-scale grid curtailment in 2019, owing to the ongoing financial distress of state distribution companies, asserted solar analyst Rishab Shrestha.
Blocks will be auctioned on the basis of revenue share offered to the government. It will be calculated on the basis of a Coal Index and mine capacity, paid every month. The coal ministry has recently readied the model for coal price index with help from the Indian Statistical Institute, which will indicate the price of coal.
According to the report titled ‘Mining, A Prudent Perspective’, conducted by the Forum for Integrated Development and Research (FIDR), the ban on mining has not only affected the families dependent on mining but also the families whose livelihoods are dependent on the ancillaries of the mining industry.
Imports rose 21% in 2019 to 69.51 million tonnes, data from the Central Electricity Authority showed. Adani's "Ultra mega" power plant in Mundra in western India accounted for a fourth of the imports, with its shipments rising 75% to 17.35 million tonnes.
The Central Bureau of Investigation (CBI) on Thursday had registered a case against former officials of the National Co-operative Consumer Federation (NCCF) and others over alleged irregularities in supply of coal to the Andhra Pradesh Power Generation Corporation (APGENCO) in 2010.
“With the acceleration of the global energy transition, we do not believe that the long-term economic or investment rationale justifies continued investment in this sector," the world’s largest money manager with $1.8 trillion in assets under management, said in a letter to its clients.
Asia’s top zinc producer by market capitalization has been campaigning for Indian Railways to increase their use of galvanized steel in its rail lines, although the material is also used in industries from construction to cars. India’s railway ministry expects to buy about 1.5 million tons of tracks in the year ending March.
A bench of Chief Justice S A Bobde and Justices B R Gavai and Surya Kant said it would pass a detailed order in the case filed by the Odisha government against the high court order which had allowed transportation of iron ore. The bench said it was not averse to allowing transporting of iron-ore but all the necessary dues and royalty payable be paid.