CIL had allocated 17.69 MT of coal in the year-ago period, according to govt data. The coal allocated by the PSU under the scheme in September also dropped to 1.97 MT, compared to 2.58 MT in the corresponding month of 2018-19. The purpose of e-auction is to provide equal opportunity to all intending buyers for purchasing coal through single window service.
As per the proposal, the board shall consists of the chief inspector of mines, who shall be its chairperson, three members possessing technical qualification in mining or petroleum engineering and having at least twenty years’ practical experience, one each in coal mines, metal mines, and oil mines to represent each sector appointed by the govt.
The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report, said "percentage variation from previous year" in thermal coal handling was at 17.69 per cent. As far as coking and other coal is concerned, its handling recorded a rise of 6.88 per cent at 33.43 MT during the seven months period.
A coal sector executive said private operators of coal blocks suffered because of problems faced in various clearances. The centre wants coal blocks to come on stream in four-five years. It wants to increase the number of coal exploration agencies, improve infrastructure for coal and amend the law to speed up approvals.
The coal minister undertook an aerial survey and inspection of mining operations of Talcher Coalfields in Mahanadi Coalfields Limited in Odisha, which is the second biggest subsidiary of state-run company Coal India Limited (CIL), and contributes about 25% cent to the total coal production of CIL, an official statement said.
Coal mines in the present tranche of auctions received a tepid response and the government had to annul auctions for 21 of the 27 mines on offer. Six mines are on offer, auctions for three of which have been completed. Another mine in Madhya Pradesh, Bikram, which was auctioned on November 1, received the highest bid of Rs 154 per tonne.
The minister said last year India imported 235 million tonne of coal and the forex outflow was Rs 2.71 lakh crore. "As of now the thinking is, not to acquire assets and only to freeze the order in advance to get coal at a competitive price," Joshi told PTI on the sidelines of the 8th Asian Mining Congress and exhibition here.
Jharkhand State Mineral Development Corporation showed interest in the Sugia Closed Mine under the seventh tranche and, along with NMDC Ltd and Madhya Pradesh State Mining Corporation, it also aimed for the Tokisud North, a Schedule-II mine. All eight assets on offer in the seventh tranche are Schedule-I blocks.
Cumulative production of iron ore up to October 2019 was recorded at 15.95 mt against 15.47 mt up to October 2018, while production in October 2019 went down to 2.49 mt against 3.23 mt in October 2018. NMDC reported the provisional production and sales figures in a notification to the BSE on Monday.
In the first tranche of coal block auction in 2015, the coal ministry had rejected Jindal Power's best bids for Gare Palma IV/2&3 block and Tara block that received low bids as compared to other blocks. The two Gare Palma blocks were given to Coal India for operation and the high court later upheld the decision. JSPL emerged as the highest bidder for the block.
Vice President M. Venkaiah Naidu said that the National Institute of Ocean Technology (NIOT) is working on almost all aspects of the six priority pillars of Blue Economy -- fisheries and aquaculture; renewable ocean energy; seaports and shipping; offshore hydrocarbons and seabed minerals; marine biotechnology, research; and development and tourism.
The coal ministry, which has asked the mining major to fast track its ambitious one billion tonne production target and look to achieve the goal by 2023-24, was in "favour of creating new posts" in the high rank to motivate its senior managers to work hard, sources said.
It was earlier planning to achieve annual production capacity target of one billion tonnes by 2019-20. However, lack of adequate demand and a plethora of issues with respect to raising production levels had forced the company to push back the deadline to 2025-26. This year its production target is 660 million tonnes which it may not achieve either.
In a statement, the company said despite a slowdown in steel industry demand for its product has remained intact. Manufacturing EBITDA for the first half of the year stood at Rs 120 crore with margin of 13.8%.