Adhunik Metaliks Ltd to surrender mining lease
The Board of Directors of Adhunik Metaliks Ltd at its meeting held on December 14, 2016, has considered the surrender of Mining Lease in respect of Kulum Iron ore Mine in Village Kulum, Deojhar & Mahadevnasa over an area of 33.803 hectares in Keonjhar district of Odisha State under Rule 29 of MCR-1960 since the mineralised area over 6.63 hectares contains inadequate minerals, making the operation uneconomical.
http://www.equitybulls.com/admin/news2006/news_det.asp?id=197632
NTPC to invest Rs 2,648 cr in developing three coal blocks in Odisha
State-run NTPC has lined up investments worth Rs 2648 crore for developing three coal blocks in Odisha.
The Maharatna public sector undertaking (PSU) plans to invest Rs 684 crore in the Dulanga coal block, which is linked to its Dariplalli super thermal power project that has the capacity to generate 1,600 Mw of power. The power project, which is supposed to come up in Sundargarh district, will attract an investment of Rs 12,532 crore from NTPC.
“The first unit of the Darlipalli plant, which has the capacity to generate 800 Mw of power, is expected to be set up by February in 2018. Commercial operations would take off from August”, said Arvind Kumar, regional executive director (East-II), NTPC Ltd.
NTPC has already invested Rs 4,000 crore on the Darlipalli project. Fifty per cent of the power generated at this plant will by supplied to the state to meet its energy demands.
Apart from the Dulanga coal block, NTPC was also allocated the Mandakini-B coal block last year to help fuel its first 4,000-Mw power plant in Telangana. The Mandakini block will receive an investment worth Rs 1,500 crore.
In the same year, the state-run firm entered into a joint venture (JV) with the Jammu and Kashmir State Power Development Corporation Ltd (JKSPDCL) to form a JV company for mining at the Kudanali-Luburi coal block, where Rs 500 crore will be invested for development purposes.
The biggest thermal power generator is massively diversifying into renewable energy, especially solar power. In the green energy space, it is eyeing a generation capacity of 10,000 Mw in the next four to five years.
In Odisha, NTPC has proposed to establish a 400 Mw solar power project with a total investment of Rs 2,200 crore. The solar generation capacity may even shoot up to 1,000 Mw depending on the availability of land, said Kumar.
At present, NTPC is generating 360 Mw of solar energy with an additional 510 Mw to be generated soon after the development work in multiple projects is completed. NTPC also has a good presence in hydroelectric power with a generation capacity of 800 Mw.
NTPC aims to increase power generation capacity to 75,000 Mw by 2025 and continue producing more thereafter.
In Odisha, the PSU has an investment portfolio of Rs 38,189 crore on multiple projects.
NTPC also plans to scale up production from 120 Mw to 370 Mw at its joint venture captive power plant at the Rourkela steel unit. This would require a fresh investment of Rs 1,885 crore.
Iron ore price to average $55/t in 2017
The average price of 62-percent iron ore will be $54.7 per ton CFR China in 2017, a Reuters poll showed.
Analysts raised their forecasts for the next four years, but many of them asked Reuters not to publish their forecasts because they are under review due to the recent global rise in prices for steel raw materials and semi-finished and finished products.
The average forecast price is $51.1 per ton for 2018.
No increase in demand for expensive Chinese ore is expected and the global benchmark price will remain at $60-$70 per ton, said Maxim Khudalov, director of corporate ratings group ACRA.
In 2015, iron ore averaged $55.3 per ton and was $51.6 per ton* in the first half of 2016
http://www.reuters.com/article/us-ironore-outlook-idUSKBN1441B8
Australia lobbies China-led AIIB to add coal to lending priorities
The Australian government is lobbying hard for the China-led Asian Infrastructure Investment Bank to include coal among its lending priorities, as the country seeks to defend its lucrative exports. The AIIB, billed by some as Beijing’s answer to the World Bank, launched last year with a promise to be a “green bank” with an emphasis on renewable power. But with a draft energy strategy due to be published this month, it has not ruled out funding coal projects.
With 57 members including Germany, France and the UK joining the lender despite initial warnings from the US not to do so, the AIIB marks China’s most ambitious foray into financial diplomacy yet. Its capital is about half that of the US-led World Bank.
Indonesian officials have asked the AIIB to finance coal-fired power plants in the archipelago, and other Asian nations are said to be interested. But Australia, with huge natural gas and coal exports, is primarily concerned with preserving overseas markets.
“The [Australian] government wants the AIIB energy strategy to acknowledge that fossil fuels will play a significant role in energy generation in the region for decades to come,” said Kate Williams, a Treasury spokeswoman, adding that their inclusion would ensure that “Australia is not disadvantaged competitively”.
The bank’s draft energy plan, to be finalised early next year, will determine which projects it supports in Asia. The region needs $8.74tn of investment in energy between 2016 and 2025, according to AIIB forecasts.
An issue paper published by the bank in October prioritises the upgrading of existing energy projects to raise efficiency and proposes investing in renewable energy, including less-intrusive types of hydropower dam, and advises against any nuclear investment. But it does not exclude the possibility of new coal projects.
The paper noted that fossil fuel production has had “severe negative impacts” on the environment, especially in Asia’s densely populated cities. “Coal and oil-fired power plants would exceptionally be considered if cleaner technologies are not available for well-founded energy security or affordability reasons,” it said.
That has worried Australia’s powerful coal lobbies. The Minerals Council of Australia, the country’s biggest industry lobby, accuses the paper of ignoring clean coal technologies, while the Business Council of Australia has written to the AIIB that Australia’s higher-quality coal can help curb emissions growth in Asia.
“The goal of economic development — and the legitimate aspirations of nearly 500m people in Asia to energy access — must not be subordinated to climate policy objectives,” the MCA said.
Under pressure from members, the World Bank has limited lending to coal-related projects because of concerns about pollution and climate change. The European Bank for Reconstruction and Development finances coal projects under “rare and exceptional circumstances” such as better heat-and-power plants in Mongolia.
Meanwhile the US and other countries are involved in financing “clean coal” projects in China in an effort to reduce emissions from the country’s most important fuel source.
The Asian Development Bank has funded coal projects, especially in countries with power shortages. Likewise, China’s national policy banks finance and build coal-fired and nuclear plants in many countries, as do other Chinese overseas funds.
When asked this week about Canberra’s lobbying of the AIIB, Julie Bishop, minister for foreign affairs, said Australia had to be realistic and pragmatic as there was a place for coal in the world’s energy requirements for decades to come.
“It will be essential for some countries to be able to reach an acceptable level of development to have supplies of cheap reliable energy and given the number of people around the world who still do not have access to electricity this is a fundamental human right,” she said.
https://www.ft.com/content/68ed504a-c110-11e6-9bca-2b93a6856354
OPGC pays Rs 15 crore dividend to Odisha govt
The state run Odisha Power Generation Corporation Limited (OPGC) today handed over a cheque of Rs 15 crore to Chief Minister Naveen Patnaik towards the state's share of dividend for the year 2015-16. As per dividend policy of the company, 25 per cent of the profit for the year 2015-16 corresponding to 6 per cent of the paid up share capital, has been declared as interim dividend. This interim dividend is likely to be confirmed as final dividend, company insiders said. The OPGC has been expanding the capacity of its power plant with a capital outlay of Rs 11,547 crore by setting up two units of 660 MW capacity each at Ib Thermal Power station, at Banharpalli in Jharsuguda district which are under construction. "Since the major portion of the profit is being utilized for financing the expansion project, the company has adopted a conservative policy of distributing 25 per cent of its distributable profit as dividend until the new units go in to commercial operation," a senior official said. The two units under construction are scheduled to be commissioned by end of the financial year 2017-18, he said. Another state PSU, the Odisha Hydro Power Corporation Limited (OHPC) has also contributed Rs 26.18 crore to Odisha government as its share, an official release said.
http://www.moneycontrol.com/news/business/opgc-pays-rs-15-crore-dividend-to-odisha-govt_8037321.html?utm_source=ref_article
Coal Washeries of CIL
The details of coal washeries operational in various subsidiaries of Coal India Limited are:
Future Plans
CIL has plans to set up 15 coal washeries in different subsidiaries of CIL with total washing capacity of 112.6 Mty. Out of these, 6 are Coking Coal Washeries with capacity 18.6 Mty and 9 are Non-Coking Coal Washeries with a total capacity of 94 Mty.
Warm Regards
Anurag Singal
Sr Manager –Business Development
Essel Mining & Industries Ltd
14th Floor, Industry House
10,Camac Street –Kol-71
Ph: 033-30518415,9088026252
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