India to require 884.87 mt of coal in 2016-17: Govt
India's annual coal requirement for the current financial year has been pegged at 884.87 million tonnes (mt).
"Niti Aayog carries out an annual assessment of requirement of coal for the country. This assessment has been done for the period up to 2016-17 wherein the demand for coal has been assessed at 884.87 mt," CoalMinister Piyush Goyal said in a written reply to Lok Sabha.
The demand for coal is not estimated separately for state and Union Territories, he added.
The steps taken by the government to increase domestic production include efforts to expedite Environment Clearances and Forest Clearances, pursuing with the state government for assistance in land acquisition and coordinated effort with the Railways for movement of coal, he said.
"A road map has been prepared by Coal India (CIL) to substantially enhance production of coal by 2019-20. This includes capacity addition from new projects, use of mass production technologies and identification of existing ongoing projects with growth potential," Goyal added.
In a separate query, the minister said the total coal produced in the country during 2015-16 was to the tune of 639.23 mt.
To another question, Goyal informed the House that under provisions of the Coal Mines (Special Provisions) Act, 2015, 83 coal mines (31 by way of auction and 52 by allotment) have been allocated so far.
Out of these, 30 coal mines for utilisation in specified end-uses — power (regulated sector) and iron and steel, cement, captive power production (non-regulated sector) have been allotted to private sector entities who participated in the three tranches of e-auction of these coal mines, he added.
An amount of Rs 444.67 crore has been invested by the successful bidders of private sector entities towards payment of cost of land and mine infrastructure, he said.
"The government does not keep details of private sector investments post allocation of the mines. From these 30 coal mines allotted to private sector entities, revenue generated (excluding royalty, cess and taxes) till October, 2016, is Rs 1,430.34 crore, which includes Rs 848.15 crore of e-auction proceeds and Rs 582.19 crore of upfront payment," he said.
Mining operations have commenced and my opening permission has been granted in 11 coalmines and 9.559 mt (provisional) of coal has been produced since the commencement of mining operations, the minister said.
Coal India Apr-Nov production at 323.57 mn tons; misses target
State-run behemoth Coal India Ltd (CIL) produced 323.57 million tonnes (MT) of coal in the first eight months of the current fiscal. The world's largest coal miner had set a target of 360.84 MT during the April-November period of 2016-17 fiscal, it said in a regulatory filing. During November, the miner produced 50 MT of the fossil fuel against a target of 53.85 MT. The offtake of the dry fuel by the coal PSU during the period was 340.32 MT, lower than the target of 381.55 MT. Last month's offtake stood at 48.16 MT against a target of 49.80 MT. CIL, which accounts for over 80 percent of the domestic coal production, is eyeing 598 MT production in 2016-17 and targets to produce a billion tonnes by 2020.
http://www.moneycontrol.com/news/business/coal-india-apr-nov-production-at-32357-mn-tons-misses-target_8053041.html?utm_source=ref_article
Officials want Coal India broken up
Senior government officials tasked by Prime Minister Narendra Modi with reviewing energy security are recommending the break up of the country’s coal monopoly, Coal India Ltd., within a year.
Attempts to break up the world’s biggest coal miner would be met with strong resistance from powerful unions representing the company’s employees of more than 3,50,000. The government backed down from a similar proposal in the face of union protests in 2014.
About 70 per cent of India’s power generation is coal-based. The country is the world’s third-largest producer and its third-biggest importer of coal, which the government wants to change by boosting local coal production.
In a presentation seen by Reuters, government officials recommend that Coal India, with a stock market valuation of $28 billion, should be broken up into seven companies, which they say will make it more competitive and efficient.
The proposal, dated November 30, is expected to be presented to Mr. Modi soon, three government officials with direct knowledge of the situation said. Calls to a Coal India spokesman went unanswered.
A source close to Power and Coal Minister, Piyush Goyal, said the ministry would review its stand on Coal India depending on what the Prime Minister says. Coal India is the country’s second-biggest employer, but critics say it is bloated and inefficient.
Under Mr. Modi’s government though, production has risen sharply as environmental and other clearances to develop mines have been fast-tracked. The company is also spending billions of dollars on buying modern machinery to increase productivity.
The government wants Coal India to increase production of coal to 1 billion tonnes a year by 2020 from about 539 million tonnes in the fiscal year that ended in March.
Mr. Modi was exploring a breakup of Coal India before taking office, Reuters reported in 2014, but the government put the idea on the back burner following protests by unions.
Unions fear restructuring Coal India would almost certainly lead to job cuts and work being outsourced to private companies. “What happens is that once a big company is broken down, it is easier to control the smaller ones,” said D.D. Ramanandan of the All India Coal Workers’ Federation, which he said, represents more than 1,00,000 workers of the company.
“But if it happens, we will oppose it. We will oppose it through all ways possible, including strike.” — Reuters
http://www.thehindu.com/business/Industry/Officials-want-Coal-India-broken-up/article16738119.ece
No proposal to split Coal India: Government
Putting to rest speculations that Coal India Ltd may be broken up, government on Thursday said there is no such proposal for the state-run behemoth. “There is neither any such proposal (to break CIL) nor are we contemplating it,” Coal Secretary Susheel Kumar told PTI when asked whether the government is planning to split the world’s largest coal miner.
http://indianexpress.com/article/india/no-proposal-to-split-coal-india-government-4405492/
Central Mine Planning and Design Institute Ltd (CMPDI) the consultancy arm of Coal India Ltd., has signed a memorandum of understanding with investment banker SBI Capital Markets.
The agreement is aimed at tapping each other’s strengths to increase their respective market share in the rapidly growing consultancy area, according to a statement from Coal India.
It is expected that CMPDI, with expertise in mineral exploration, resource evaluation including coal bed methane , mining geology , hydro geological and engineering geology investigations and mineral processing will provide technical and advisory support for assignments undertaken by SBICAP.
The MoU covers areas like providing help for due diligence for the overseas coal and mineral properties for clients, advising bidders in mineral sector and also advising governments for managing mineral sector.
The details of the scope of work and the commercial arrangement would be worked out later, according to the statement. The deal was signed by Sashi Kant, General Manager, business development, CMPDI and Supriyo Gupta vice-president SBI Capital Markets Ltd.
It may be mentioned that while companies scouting for acquisition of coal properties hire services of merchant bankers, there have been instances when lack of expertise had led to inadequacies in the reports and even incorrect due diligence.
A power utility had once `discovered’ that there was hardly any extractable coal deposits in a South-East Asian country-mine, even after initial reports had promised sufficient reserves.
http://www.thehindu.com/business/Coal-India-arm-signs-pact-with-SBI-Caps/article16723655.ece
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