NORTHERN COALFIELDS
South Eastern Coalfields files DRHP with SEBI for IPO; Coal India to offload 66.8 crore shares
Coal India subsidiary South Eastern Coalfields has filed its draft papers with SEBI for an IPO comprising an offer for sale of up to 66.81 crore shares. One of India’s largest coal producers, SECL reported higher revenue and profit and plans to list on the BSE and NSE.
Coal India’s stockpile is shrinking fast as coal dispatches outpace production
Coal India has experienced a 49% cut in coal stocks over the last half-year. This notable decline comes amid a 7.6% surge in offtake, despite a 2.5% dip in production levels. The coal production reached 321 million tonnes, with an impressive dispatch of 384.20 million tonnes. Particularly, the inventory saw a steep 52% decline during the September quarter, reflecting diverse trends among its subsidiaries.
Blackouts hit Indian factories as coal crunch feeds into economy
Indian industries and households are grappling with power shortages due to reduced coal supplies and extreme weather conditions. The weak monsoon has limited hydropower generation while demand for electricity has surged. Many factories, including small steel mills, are facing lengthy outages, impacting production and increasing costs. Consumers in states like Uttar Pradesh are experiencing significant blackouts, prompting investments in backup systems.
Mining sector could contribute USD 500 billion to Indian economy in next 20 years: Maharashtra CM Fadnavis
India's mining sector is projected to contribute half a trillion dollars over twenty years. This vital industry is expected to create three crore new jobs for the nation's economy. Mineral security is now intrinsically linked with energy security for global stability. Emerging technologies like AI and quantum computing depend heavily on mineral resources. Vidarbha is poised to become a significant engine for India's mining-led economic growth.
Northern Coalfields ramps up coal production after rains ease
Northern Coalfields Limited has boosted coal output and deliveries significantly. This increase follows the easing of monsoon rains, aiding supply chains. Power plants in Uttar Pradesh, Madhya Pradesh, and Rajasthan are now receiving more coal. NCL has produced over fifty-one million tonnes of coal this year. Approximately eighty-seven percent of these supplies are directed to the power sector.
Coal India-arm NCL output rises 67%, supplies by 75% as rains ease
Northern Coalfields Ltd has significantly boosted coal production and supplies. Daily output rose by sixty-seven percent as monsoon rains receded. Supplies also increased by seventy-five percent, reaching zero point three five million tonnes. This marks a strong recovery from earlier operational challenges caused by heavy rainfall. The company is now intensifying efforts to maximize production and strengthen coal evacuation.
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Coal supply rises as rains recede, stocks recover at critical plants
Coal India's average daily coal production, rose by 35% to around 1.83 million tonnes on September 6 against around 1.36 million tonnes during the first three rain-affected days of September. The average daily despatch to the power sector increased by 24% from around 1.37 million tonnes during the first three days of September to 1.7 million tonnes as on September 6.
India steps up coal supplies to power plants amid rising demand and falling stocks
In response to escalating energy demands, the government is augmenting coal supplies from both captive mines and Coal India subsidiaries. This initiative aims to alleviate the concerning depletion of coal stockpiles at several power plants. Coal companies are being prompted to enhance their loading efficiency, while ongoing meetings will streamline coal production and logistics to maintain an uninterrupted supply flow to the power sector.
Coal India output dips 5.7% in August, offtake rises 5.5%
Coal India's August production saw a 5.7 percent decrease compared to last year. However, the company's coal offtake rose by 5.5 percent during the same period. Cumulative output between April and August also declined by 4.5 percent. Supplies to the power sector grew, and non-power sector supplies increased. The company is preparing to ramp up production as the rainy season ends.
Coal India surpasses capex target
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.
Coal India to purchase dumpers from BEML at Rs 400 crore
This is part of the company’s plans to invest upwards of Rs 7000 crore in acquiring 360-odd heavy mining machinery over the next three-four years to enhance production for achieving a billion tonnes production capacity by 2024.
S K Gomasta takes over as director technical at Coal India’s exploration arm
Gomasta started his career in the coal industry from Coal India’s subsidiary Western Coalfields in 1984. He has worked in different capacities in underground and opencast mining in different subsidiaries of Coal India namely Western Coalfields (WCL), South Eastern Coalfields (SECL) and Northern Coalfields Limited (NCL).
Mahanadi Coalfields suffers loss of ₹60 crore as unions observe strike
Production and sales came to a grinding halt at Mahanadi Coalfields on the first day of the two-day strike which, however, didn’t take a major toll on other Coal India subsidiaries.
NTPC awards transport contract for 1.3 MT CIL coal offered under 5 MT offer
NTPC was offered coal recently after its stocks dipped sharply. It was offered 1.5 MT from Central Coalfields (CCL), 0.5 MT from Bharat Coking Coalfields (BCCL) and 0.5 MT from Northern Coalfields (NCL).
CIL's Northern Coalfields, Indian Railways to invest up to Rs 6,000 crore in tracks
Northern Coalfields has 11 operational mines in Moher Basin of Madhya Pradesh’s Singrauli district.
Coal India set to end fiscal with Rs 6,000-crore bonanza
This is the first time Central Coalfields, South Eastern Coalfields, Western Coalfields, Mahanadi Coalfields and Northern Coalfields will be purchasing their own shares.
CIL arm awards Rs 1,470 crore project to Dilip Buildcon JV
Dilip Buildcon Limited (DBL) is a private sector road-focused engineering procurement construction(EPC) contractor in the country.
Five subsidiaries to add Rs 5,000 crore to Coal India’s kitty through buyback
Central Coalfields, is likely to announce buy back of Rs 1,000 crore soon. Coal India will use the total Rs 5,000 crore to buy back its shares from the government and the public.
Coal India arm to buy back shares worth Rs 1,200 crore
The board of directors of South Eastern Coalfields Ltd (SECL)... at its meeting held on June 14, has considered and approved the buyback of 8,46,359 fully paid equity shares.
Coal India advances after two subsidiaries okay buyback proposals
Shares of Coal India advanced over 1 per cent in an otherwise weak trading session on Monday after the world’s largest coal producer said two of its subsidiaries, Mahanadi Coalfields and Northern Coalfields, have approved plans for share buyback.
Coal India aims to buyback shares worth Rs 1,978 crore
The buyback represents 22.62 per cent of the total number of equity shares in the paid-up share capital of the NGL.
Two Coal India subsidiaries to buy back shares worth Rs 1,978 crore
Both the subsidiaries decided to buy around 20 per cent stake each from Coal India, with a follow up by three more subsidiaries announcing buy backs.
Northern Coalfields Ltd's former General Manager, son get 5 year RI in disproportionate assets case
Rai was allegedly found in possession of assets worth Rs 1,27,63,034 which were disproportionate to his known sources of income.
CIL chief tells NTPC to clear dues
Coal India chairman Narsing Rao has defended its subsidiary that is locked in a public spat with top power generator NTPC over fuel quality.
Prime Minister's Office to discuss easing of environ norms for CIL projects with MoEF
PMO is likely to discuss with the Environment Ministry the possibility of doing away with the mandatory public hearing for according clearances to CIL.
Ministry not in favour of 10% stake sale in CIL subsidiaries
The department of divestment wants CIL to divest stake in its six profit- Central Coalfields, Mahanadi Coalfields, South Eastern Coalfields, Northern Coalfields and Western Coalfields.
CIL misses revised output target for 2011-12 at 436 million tonnes for 2011-12
CIL has missed its revised production target as it achieved only 435.84 million tonnes (MT) for 2011-12 against 447 MT.
Northern Coalfields to surrender land to Reliance Power
NCL has agreed to surrender land required to mine two blocks attached to the Sasan ultra mega power plant to Reliance Power.
Northern Coalfields refuses to transfer land to Reliance Power's Sasan ultra mega power project
Northern Coalfields has refused to transfer land required to operate the mines attached to proposed 4,000 mw Sasan ultra mega power project.
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