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Kolkata, In a bold move to diversify its operations and integrate further into the value chain, <keyword id="45383" type="General" weightage="80" keywordseo="coal-india" source="Orion">Coal India</keyword> Limited (CIL) is targeting the acquisition of lithium, cobalt, and nickel assets abroad. The company has recently amended its Memorandum of Association (MoA) to include non-ferrous and critical minerals, indicating its commitment to expand its presence in new sectors. In the past, the miner's attempt to acquire coal assets aboard did not fructify. In its pursuit of overseas assets, CIL is currently identifying suitable opportunities for mergers and acquisitions, the management informed its shareholders in its latest annual report. The strategic move reflects the company's vision to secure a steady supply of these critical minerals toward the Atmanirbhar mission of India. In 2022, the Ministry of Mines also created a joint venture company, Khanij Bidesh India Ltd (KABIL), with participating interest from NALCO, Hindustan Copper Ltd and Mineral Exploration Corporation Ltd (MECL). KABIL is mandated to identify and acquire overseas mineral assets of critical and strategic nature such as lithium, cobalt, etc. In the past, NMDC and Coal India were considered for participation in the special purpose vehicle (SPV). Highlighting capex plans, Coal India stated that it has proposed a capital expenditure of Rs 16,600 crore in 2023-24. "As part of our investment plan, we have strategically allocated a substantial amount towards diversification projects including ventures such as solar power, thermal power plants, revival of fertilizer plants, surface coal gasification, coal bed methane and others. "With a focus on acquisitions and JVs, we seek to venture beyond our core competencies, tap into emerging opportunities and manage associated risks effectively," Coal India informed its shareholders. In 2022-23, the capital expenditure of CIL registered a phenomenal growth of 20.90 per cent to Rs 18,619 crore. Coal India chairman <keyword id="7940615" type="General" weightage="50" keywordseo="p-m-prasad" source="Orion">P M Prasad</keyword> said CIL has executed three Memorandum of Understanding (MoU) with BHEL, GAIL India Limited, and IOCL for undertaking coal-to-chemical business using surface coal gasification, which is proposed to be implemented jointly through JV companies. Coal India has also signed two MoU for its foray into the thermal power business. The first is for a joint venture between <keyword id="1365399" type="General" weightage="50" keywordseo="south-eastern-coalfields-limited" source="Orion">South Eastern Coalfields Limited</keyword> (SECL) and Madhya Pradesh Power Generating Company Limited (MPPGCL) to implement a 1x660 MW Supercritical thermal power station replacing the retired generating units situated at the existing premises of MPPGCL's <keyword id="1472730" type="General" weightage="50" keywordseo="amarkantak-thermal-power-station" source="Orion">Amarkantak Thermal Power Station</keyword>, Chachai, district Anuppur, Madhya Pradesh. The other initiative is setting up of 2x800 MW Supercritical thermal power plant in Odisha, through Mahanadi Basin Power Limited (MBPL), a wholly-owned subsidiary of Mahanadi Coalfields Limited (MCL). MoU between CIL and Assam Power Distribution Company Limited (APDCL) was executed for the purchase of 1,200 MW from the proposed MBPL Power Plant. CIL has also established joint ventures (JVs) with prominent entities such as the National Thermal Power Corporation (NTPC), Indian Oil Corporation Limited (IOCL), Gas Authority of India Limited (GAIL), and Rashtriya Chemicals and <keyword id="5270214" type="General" weightage="50" keywordseo="fertilisers-limited" source="Orion">Fertilisers Limited</keyword> (RCF). These partnerships aim to mitigate technological and financial risks associated with diversification projects, while also leveraging the expertise of its business partners, the dry-fuel miner said.

Coal India embarks on overseas acquisition of critical mineral assets

State-owned <keyword id="59700" type="CITY" weightage="100" keywordseo="Coal-India-Ltd">Coal India Ltd</keyword> arm <keyword id="175844" type="ORGANIZATION" weightage="20" keywordseo="CCL">CCL</keyword> today said that it will not go ahead with the proposed buyback plan worth Rs 1,001.8 crore, according to <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword>. 
 "The board of Directors of CCL at its meeting held on March 10, 2017 have after reviewing the limited reviewed unaudited financials of the <keyword id="24975" type="ORGANIZATION" weightage="20" keywordseo="company">Company</keyword> ended 31 December 2016, based on the Revised Valuation Report submitted by <keyword id="146899" type="POSITION" weightage="20" keywordseo="merchant-banker">Merchant Banker</keyword>, decided not to proceed with the proposed buyback," <keyword id="45383" type="COMPANY" weightage="20" keywordseo="Coal-India">Coal India</keyword> said in a filing to BSE. 
 
Central Coalfields Ltd (CCL)-- the Coal India arm -- had a few days back approved a share buyback plan worth Rs 1,001.88 crore. 
 
"The board of directors of CCL, our wholly-owned subsidiary, at a meeting held on March 3, 2017 considered and approved the buyback of 5,21,000 fully paid equity shares of face value of Rs 1,000 each from the members of CCL on a proportionate basis through tender offer," Coal India had said. 
 
The equity shares are proposed to be bought back "for an aggregate amount not exceeding Rs 1,001.88 crore...at a price of Rs 19,230 per equity share payable in cash, subject to the approval of the shareholders of CCL," it had said. 
 
The equity shares proposed to be bought back by CCL represent 5.54 per cent the total number of equity share capital in the paid up share capital of CCL, the company had said. 
 
Coal India accounts for over 80 per cent of the country's domestic production. 
 In another filing to BSE, CIL said its board today approved to tender the shares held by the <keyword id="44530" type="COMPANY" weightage="20" keywordseo="PSU">PSU</keyword> in its arms -- <keyword id="260788" type="COMPANY" weightage="20" keywordseo="Mahanadi-Coalfields-Ltd">Mahanadi Coalfields Ltd</keyword> (MCL), <keyword id="758143" type="ORGANIZATION" weightage="20" keywordseo="Northern-Coalfields-ltd">Northern Coalfields Ltd</keyword> (<keyword id="6371398" type="ORGANIZATION" weightage="20" keywordseo="NCL">NCL</keyword>), <keyword id="1440942" type="COMPANY" weightage="20" keywordseo="South-Eastern-Coalfields-Ltd">South Eastern Coalfields Ltd</keyword> (SECL) -- in their respective buyback offer. 
 
MCL's 4,51,743 shares would be tendered in the buyback offer and "the price per share at which the shares are to be tendered is (in Rs) 35,796.02." 
 
NCL's 4,11,135 shares would be tendered in the buy back offer and "the price per share at which the shares are to be tendered is (in Rs) 30,260.70." 
 
SECL's 6,09,250 shares would be tendered in the buy back offer and "the price per share at which the shares are to be tendered is (in Rs) 19,699.47."

Coal
India Ltd arm refused to go with Rs 1,002-crore buyback plan

New Delhi, Apr 5 () State-owned CIL's subsidiaries have set up 1,509 isolation beds in eight states in the fight against the Covid-19 pandemic, an official said. The eight coal bearing states are Jharkhand, West Bengal, Odisha, Madhya Pradesh, Uttar Pradesh, Chhattisgarh, Maharashtra and Assam. Of the 1509 beds, Coal India arm Mahanadi Coalfields Ltd (MCL) has set up the maximum 664 beds at its hospitals in places like Bhubaneswar, Angul, Jharsuguda, Sambalpur and Sundargarh in the state of Odisha. Besides, Northern Coalfields Ltd (NCL) has come up with 200 isolation beds in Madhya Pradesh and Uttar Pradesh. Bharat Coking Coal Ltd (BCCL) has set up 100 beds, Central Coalfields Ltd (CCL) 180 beds, Eastern Coalfields Ltd (ECL) 144 beds, South Eastern Coalfields Ltd (SEC) 132 beds, Western Coalfields Ltd (WCL) 75 beds and North Eastern Coalfields Ltd (NECL) 14 beds. The subsidiaries have also distributed more than 3.3 lakh face masks to people in and around the coal mines, the official added. ECL has distributed the maximum 76,367 masks, followed by NCL (66,847), SECL (64,536) and WCL (52,613), among others. CIL had earlier pledged Rs 220 crore to the Prime Minister's Citizen Assistance and Relief in Emergency Situation (PM-CARES) Fund to fight against the coronavirus pandemic. CIL accounts for over 80 per cent of domestic coal output. The PSU has taken various initiatives to continue the dry fuel supply to various sectors, including power, during the lockdown period. The measures include extending the time for coal lifting and making payments, and relaxing penalty against defaulters. SID ABM

Covid-19: Coal India arms set up 1,509 isolation beds in 8 states

New Delhi, Apr 20 () State-run Nalco and Coal India arm Mahanadi Coalfields Ltd (MCL) will fully fund two dedicated 350-bed Covid-19 hospitals in Odisha inaugurated on Monday. The hospitals were inaugurated by Odisha Chief Minister Naveen Patnaik along with Minister of Petroleum and Natural Gas Dharmendra Pradhan and Coal and Mines Pralhad Joshi through video conferencing. The hospitals started by Odisha government will be run with the help of different medical hospitals of the state. "National Aluminum Company (Nalco) and Coal India subsidiary Mahanadi Coalfields Ltd (MCL) will fully fund two dedicated Covid-19 hospitals in Odisha," the mines ministry said in a statement. Nalco will fund a 200-bed hospital set up at Nabarangpur district of Odisha, whereas MCL will fund the 150-bed hospital started at Talcher in Angul district of the state. MCL has also provided its medical college infrastructure for setting up the hospital. "The central government has already issued guidelines to allow state governments to utilise up to 30 per cent of the balance fund available with District Mineral Fund (DMF) to combat Covid-19. This will also help the mineral rich state like Odisha in fighting with the pandemic," Joshi said. Notably, employees of Nalco have contributed their one-day salary amounting to Rs 2.5 crore to Odisha Chief Minister's Relief Fund. MCL is already funding a dedicated 500-bed Covid-19 Hospital at Bhubaneswar. This Coal India arm has also established an over 50-bed isolation centre at Jharsuguda district of Odisha. The company has also pressed into service the state-of-the-art equipment 'Fog Cannon' to sanitise peripheral areas, besides distributing masks and alcohol-based sanitisers among coal miners and people living in and around its operations. SID SID ANSANS

Two 350-bed Covid-19 hospitals inaugurated in Odisha; to be fully-funded by Nalco, Coal India arm

Nagpur, Jun 21 () Coal India Limited (CIL) will engage mine developer cum operators (MDOs) to increase its coal output and reduce import dependency of the dry fuel in the coming years. The Maharatna coal mining behemoth in the process has identified a total of 15 greenfield projects to operate through MDO model of which 12 are open cast and 3 underground, a release by Western Coalfields Ltd (WCL) - subsidiary of CIL - said. Combined, they have a total targeted capacity of around 168 million tonne/year (MTY). While the OC projects have a targeted capacity of 162 MTY, UG projects have close to 6 MTY. The contract period would be for 25 years or life of mine whichever is less. "CIL will engage MDOs of international repute, having state-of-the-art-technology through open global tenders, who shall excavate, extract and deliver coal to the coal companies of CIL as per the approved mining plan. "CIL's board recently has given its nod in regard to standard bid document and request for bids for the engagement of MDOs. CIL is laying out plans to complete the formalities by 2021-22 so that all projects become operational and start yielding the output to contribute in 1 BT by 2023-24," it said. It further informed that upcoming identified projects of Mahanadi Coalfields Limited, South Eastern Coalfields and Central Coalfields Limited will form major segments for the MDO mode with targeted capacities of 65.5 MTY, 52.4 MTY and 45 MTY, respectively. Eastern Coalfields Limited and Northern Coalfields Limited will have projects with targeted capacities of 3 MTY and 2 MTY, respectively. "Notice Inviting Tender (NIT) for 2 Projects, Siarmal OC of MCL (40 MTY) and Kotre-Basantpur Pachmo of CCL (5 MTY) together having a targeted capacity of 45 MTY has been floated in 2019-20. While NIT for 5 Projects for a targeted capacity of 68 MTY will be floated in the ongoing fiscal, for the balance 8 projects NIT will be floated in the fiscal, 2021- 22," the release said. It also informed reputed MDOs would be engaged to have multiple advantage of technology infusion, and operational efficiency in the system apart from increased production. MDOs will facilitate R&amp;R issues, land acquisitions, green clearances and coordination with state and central pollution boards. Since contracts to them are on long-term basis, allied infrastructure will also be developed. CLS NP BAL BAL

CIL to engage MDOs to boost coal output

New Delhi, Jan 28 () Coal India on Tuesday said it has registered a double-digit production growth of 10.7 per cent in January.
 The company as a whole has been averaging close to 2 MT per day coal output during the month, it said in a BSE filing.
 "Coal India Ltd (CIL) clocked double-digit growth of 10.7 per cent in coal production for the month of January 2020, till 27th (January)," it said.
 "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.
 A company official said the production spurt came largely on the back of production in Mahanadi Coalfields and South Eastern Coalfields Ltd (SECL) adding "by the end of January, production is likely to be up by another 8 MT."
 Mahanadi Coalfields surged ahead with 21.5 per cent production growth, as of the referred date, followed by SECL with 14.4 per cent.
 These are two of the largest producing subsidiaries of CIL, which together contribute close to half of CIL's total coal output.
 Much to the relief of the company, Dipka opencast mine of SECL, the third largest coal producing mine of CIL, came back strongly in record time reaching one lakh tonne per day production.
 Dipka's lower benches were flooded when a non-seasonal river broke the embankment and flooded the mine on September 29, 2019, it said.
 "Coal offtake at 48.07 MT, as of 27th January 2020, registered a growth of 6.2 per cent compared to same date last January...," it said.
 There is no shortage of coal in power plants, with a total of 65.66 MT currently available in the system, of which stock at CIL's pitheads is 31.41 MT.
 Thermal power plants were adequately stocked with 34.25 MT of coal (as of January 26), sufficient for 19 days consumption, it said.
 The current level of coal stock at power plants is 14.89 MT more than that of the year-ago level. In the year-ago period, it was 19.36 MT.
 "Better management of supply logistics ensured that coal stock at various power stations was maintained throughout the year and the number of critical power plants never touched double-digit during 2019-20 as per CEA," the official said.
 After almost three years, the number of NTPC plants and NTPC/JVS having super critical stock was down to zero. SID SID ANU
ANU

Coal India output in January rises 10.7 pc

New Delhi, Apr 6 () State-owned CIL has developed a sanitising chamber for disinfecting its mine workers and containing the spread of the deadly coronavirus that has wreaked havoc across the world. The sanitising chamber at one of the mines of Coal India-arm South Eastern Coalfields Ltd (SECL) has already been commissioned, an official said. Each worker of SECL at the Bartunga Hill Mine in Chhattisgarh enters the sanitising chamber where a disinfectant is sprayed over the full body, making the worker safe and sanitised, the official said. "A full-body sanitiser has been commissioned in Bartunga Hill Mine, Chirimiri area, SECL. The system consists of a water pump ... In the system there are total 16 misting nozzles which are installed on both sides of the chamber in two columns; four nozzles each on both side of the chamber which operates automatically by a timer circuit," the official said. When a person put his leg even for a second in the foot platform of timer circuit, the pump operates automatically in turn water misting starts from all the 16 nozzles, the official explained. The nozzles are operative for 20 seconds which is required for proper sanitisation, the official said adding that after that the pump stops automatically. The chemical used for sanitisation is sodium hypochlorite in recommended portion with water. According to the official, another Coal India subsidiary Mahanadi Coalfields Ltd (MCL) has pressed into service a "fog cannon" to sanitise peripheral areas among coal miners and people living in and around its operations. The single largest coal-producing company in the world has taken several measures to contain the spread of coronavirus pandemic. CIL subsidiaries have distributed more than 3.3 lakh face masks to the people in and around coal mines. The arms have set up 1,509 isolation beds in eight states in the fight against the COVID-19 pandemic, an official said. The eight coal-bearing states are Jharkhand, West Bengal, Odisha, Madhya Pradesh, Uttar Pradesh, Chhattisgarh, Maharashtra and Assam. In its fight against the deadly virus, CIL had earlier pledged Rs 220 crore to the Prime Minister's Citizen Assistance and Relief in Emergency Situation (PM-CARES) Fund. Coal India accounts for over 80 per cent of domestic coal output. SID MRMR

Combating Covid 19: Coal lndia develops sanitsing chamber for mine workers

New Delhi, Jan 14 () Jindal Steel and Power Ltd (JSPL) on Tuesday said its coal gasification-based DRI plant at Angul district in Odisha has resumed operation.
 "JSPL's 1.80 MTPA DRI (direct reduced iron) plant based on coal gasification process has resumed operations in Odisha's Angul district," the company said in a filing to BSE.
 The plant was not operational for long due to the scarcity of coal. Now Coal India Ltd (CIL) and its arm Mahanadi Coalfields Ltd have started selling coal in adequate quantity, therefore gasification and DRI operations have resumed.
 "Our... plants are again working on the full potential on purchased coal," JSPL MD V R Sharma said.
 "We are targeting an additional production run-rate of 1.50 million tonnes per year of steel in FY20-21 through CGP (coal gasification process) and DRI route," Sharma said.
 Direct reduced iron, also called sponge iron, is produced from the direct reduction of iron ore (in the form of lumps, pellets, or fines) to iron by reducing gas or elemental carbon produced from natural gas or coal. Many ores are suitable for direct reduction.
 The plant was set up by JSPL to ensure the availability of chemical and thermal energy required to produce DRI at an affordable price to reduce environmental impact of coal in the long run.
 The coal gasification process converts high-ash grade coal into synthesis gas or Syngas. The syngas has replaced the costlier natural gas being used by other DRI manufacturers across the globe.
 The syngas is used as a reductant in converting iron ore/ iron pellets into DRI /sponge iron.
 "It is the first plant of its kind in the world where syngas is used in making DRI," the filing said.
 JSPL said that it has invested thousands of crores to build the Direct Reduced Iron plant and coal gasification plant.
 The syngas produced from coal gasification contains methane, carbon monoxide, hydrogen and other such useful gases, in a particular ratio, which are required to produce DRI from iron ore/pellets.
 This gasification process has a lesser impact on the environment as compared to the coal combustion process.
 The shares of the company were trading at Rs 178.40, up 0.28 per cent on BSE in the morning trade. SID DRR

JSPL's coal gasification-based DRI plant in Odisha resumes operation

New Delhi, Apr 6 () Coal India arm MCL will fund the Covid-19 hospital, having 500 beds and 25 intensive care units, in the capital city of Odisha. The hospital was inaugurated on Monday By Odisha Chief Minister Naveen Patnaik. Petroleum and Natural Gas Minister Dharmendra Pradhan and Coal and Mines Minister Pralhad Joshi also attended the programme coordinated through video conferencing. The development comes at a time when concerns have been raised about weak healthcare infrastructure in the country amid the coronavirus outbreak. "Government of Odisha started the country's second largest COVID-19 hospital in Bhubaneswar on Monday. Coal India's subsidiary company is funding the total operations of this hospital having 500 beds and 25 Intensive Care Unit (ICU) beds with ventilators," an official said. Mahanadi Coalfields Ltd (MCL) will finance all expenses of the hospital including cost of treatment of patients for which MCL has already released Rs 7.31 crore as immediate advance. The hospital is a great medical asset for the people of Odisha, Joshi said. MCL has also established isolation and quarantine centres with a total capacity of over 250 beds in Angul, Sambalpur, Jharsuguda and Sundargarh districts of Odisha. The company has also pressed into service the state-of-the-art equipment "fog cannon" to sanitise peripheral areas, besides distributing masks and alcohol-based sanitisers among coal miners and people living in and around its operations. "The central government has already issued guidelines to allow state governments to utilise up to 30 per cent of the balance fund available with District Mineral Fund (DMF) to combat COVID-19. This will also help the mineral rich state like Odisha in fighting with the pandemic," Joshi said. "I had personally directed the PSUs of coal and mines ministries to extend best possible support to the respective state governments to help fight COVID-19, which has engulfed most of the countries of the world. I am happy that these PSUs have risen to the occasion," he added. In response, Coal India's subsidiaries have set up over 1,500 quarantine/ isolation beds in eight states. Similarly, employees of Bhubaneswar- headquartered NALCO have pledged to contribute their one day salary amounting to Rs 2.5 crore to Odisha Chief Minister's Relief Fund. NALCO has also given its consent to fund a dedicated COVID-19 hospital to be set up by the government of Odisha in Koraput district. Coal India accounts for over 80 per cent of the domestic coal output. SID SID ANUANU

You Searched For "Mahanadi Coalfields Ltd" and got 9 results

Coal India embarks on overseas acquisition of critical mineral assets

PTI

Coal India Ltd arm refused to go with Rs 1,002-crore buyback plan

BI India Bureau

Covid-19: Coal India arms set up 1,509 isolation beds in 8 states

PTI

Two 350-bed Covid-19 hospitals inaugurated in Odisha; to be fully-funded by Nalco, Coal India arm

PTI

CIL to engage MDOs to boost coal output

PTI

Coal India output in January rises 10.7 pc

PTI

Combating Covid 19: Coal lndia develops sanitsing chamber for mine workers

PTI

JSPL's coal gasification-based DRI plant in Odisha resumes operation

PTI

Covid-19 hospital in Odisha inaugurated; to be funded by Coal India arm

PTI

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