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The <keyword id="273072" type="General" weightage="50" keywordseo="ministry-of-coal" source="Orion">Ministry of Coal</keyword> on Wednesday said that the <keyword id="6383145" type="General" weightage="20" keywordseo="Coal-production" source="Orion">coal production</keyword> has gone up by 32.5 per cent approx in June this year and the <keyword id="6356966" type="General" weightage="100" keywordseo="coal" source="Orion">coal</keyword> based power generation too has increased in the same period registering growth of approximately 26 per cent. The Ministry said that India's coal production increased by 32.57 per cent to 67.59 Million Tonne (MT) from 50.98 MT during June 2021. According to the provisional statistics of the Ministry of Coal, during June this year, <keyword id="59700" type="General" weightage="50" keywordseo="coal-india-ltd" source="Orion">Coal India Ltd</keyword> (CIL), <keyword id="778964" type="General" weightage="50" keywordseo="singareni-collieries-company-ltd" source="Orion">Singareni Collieries Company Ltd</keyword> (SCCL) and captive mines / others registered a growth of 28.87 per cent, 5.50 per cent and 83.53 per cent by producing 51.56 MT, 5.56 MT and 10.47 MT respectively. Of the top 37 coal mines, as many as 22 mines produced more than 100 per cent and production at another nine mines stood between 80 and 100 per cent. At the same time, coal despatch increased by 20.69 per cent to 75.46 MT from 62.53 MT during June 2022 as compared to June 2021. During June 22, CIL and Captives/Others registered a growth of 15.20 per cent and 88.23 per cent by dispatching 58.98 and 11.05 MT respectively. SCCL registered a negative growth of 0.46 per cent during the month. The power utilities dispatch has grown by 30.77 per cent to 64.89 MT during June this year as compared to 49.62 MT in June 21 due to increase in power demand. Coal based power generation has registered a growth of 26.58 per cent in June 2022 as compared to June 2021. The overall power generation in June 2022 has been 17.73 per cent higher than in June 2021. However, Coal based power generation in the month of June 2022 has been 95,880 MU in comparison to 98,609 MU in May 2022 and registered a negative growth of 2.77 per cent. Total power generation has also decreased in June 2022 to 1,38,995 MU from 1,40,059 MU in May 2022 and registered a negative growth of 0.76 per cent. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/oats-and-honey-are-some-of-the-health-foods-that-indians-are-buying-less-of/articleshow/92697833.cms">Oats and honey are some of the health foods that Indians are buying less of</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/flexibility-is-passe-companies-are-ready-to-re-design-jobs-to-retain-talent/articleshow/92696760.cms">Flexibility is passe, companies are ready to re-design jobs to retain talent</a>

Coal production rose by 32% and coal-fired power generation increased too, says ministry

The Coal Ministry is more concerned about increasing <keyword id="6383145" type="UNKNOWN" weightage="100" keywordseo="coal-production">coal production</keyword> than restructuring <keyword id="45383" type="COMPANY" weightage="100" keywordseo="Coal-India">Coal India</keyword>, Union Coal Minister <keyword id="6355222" type="PERSON" weightage="100" keywordseo="Piyush-Goyal">Piyush Goyal</keyword> said. 
 
According to Goyal, the more pressing problem before the ministry is finding ways to increase coal production and sorting out environmental issues. 
 
“There were years of inaction, ineptitude and policy paralysis that the sector witnessed on account of environmental constraints, which were unreasonable to a large extent,” the minister said when asked about the restructuring of Coal India. 
 
Speaking about enhancing coal production, Goyal said, “I am glad that I have discussed the issue with the environment minister and already set up a meeting in the next four days to discuss some of the valuable suggestions given in the meeting.” 
 
He, however, did not answer a question on coal pricing and said that there would be an improvement in the quality of coal.

Increasing Coal
Production More Important Than Restructuring Coal India: Coal Minister

New Delhi [India], June 21 (ANI): In a bid to increase the <keyword id="19922489" type="General" weightage="20" keywordseo="coal-production" source="keywords">coal production</keyword> in India, the Union Minister of Coal and Mines G Kishan Reddy will launch the 10th round of the <keyword id="22130340" type="General" weightage="20" keywordseo="commercial-coal-block-auction" source="keywords">commercial coal block auction</keyword> on Friday. According to a statement by the <keyword id="20786311" type="General" weightage="20" keywordseo="Union-Ministry-of-Coal" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Ministry of Coal" meta.hostid="153" meta.entityid="Union Ministry of Coal">Union Ministry of Coal</keyword>, in this round of coal auction, 60 blocks will be offered. The <keyword id="19983406" type="General" weightage="20" keywordseo="Coal-India-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Coal India Limited" meta.hostid="153" meta.entityid="Coal India Limited">Coal India Limited</keyword> (CIL) had previously awarded 23 <keyword id="20434014" type="General" weightage="20" keywordseo="coal-mines" source="keywords">coal mines</keyword> to private sector bidders under a revenue-sharing model, aiming to exploit the latent coal reserves in some of its closed and discontinued underground mines. The coal mines in the 10th round of allocation are located in Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Telangana and West Bengal. Sixteen mines will be offered in Odisha, followed by Chattisgarh and Madhya Pradesh where 15 coal mines will be auctioned. According to the <keyword id="19923650" type="General" weightage="20" keywordseo="ministry-of-coal" source="keywords" topicspecial.url="https://economictimes.indiatimes.com/news/ministry-of-coal">Ministry of Coal</keyword>, so far it has allocated/ auctioned 161 coal mines with peak rated capacity of 575 MT. Out of which 58 mines have received mine opening permission and 54 mines are into operation. Last year these mines have produced total of 147 MT of coal, which constitutes 15 per cent of the total coal production of the country The Commercial coal block auction was launched by the Prime Minister in 2020. Since then, the Ministry has successfully auctioned 107 coal blocks during the last nine rounds. So far, 11 commercial coal blocks have been operationalized in the country. On the 23 coal mines given to the private bidders <keyword id="19903245" type="General" weightage="100" keywordseo="coal-india" source="keywords" topicspecial.url="https://economictimes.indiatimes.com/coal-india-ltd/stocks/companyid-11822.cms">Coal India</keyword> said "The cumulative peak rated capacity of these mines is 34.14 million tonnes/year (MT/Y) while the total extractable reserves are estimated at 635 MT". Coal India identified 34 discontinued mines with dormant good-quality coal reserves that were not financially viable for the company to mine. As a result, CIL decided to tender and offer these mines to willing private sector players who could operate them, produce the dry fuel, and share parts of the revenue with CIL. The successful bidder would be the one offering the maximum revenue to the company. "The minimum revenue to be shared is 4 per cent. The contract period is for a maximum of 25 years," the company stated. The company added that this move is advantageous in several ways, including resource conservation, effective substitution of imported coal for the non-regulated sector, and providing livelihoods to local communities where these mines are revived. Environmentally, there would be no land degradation as the mining infrastructure is already in place. CIL is also identifying additional mines to attract wider participation, with relaxed bid norms. For coal sold exclusively for coal gasification or coal liquefaction, 50 per cent of the contracted percentage of revenue share will be provided to the operator. Coal India said that the successful bidder or mine operator will take over the mine on an "as is where is" basis and can use the existing infrastructure and project facilities without additional payment to Coal India. In case of a consortium, foreign bidders are allowed to participate as the second or third members, according to the Government e-Marketplace (GeM) portal. The mine operator will act as the agency responsible for selling coal mined from these mines at market-driven prices through an auction process on behalf of the authority. They will have the freedom to choose their preferred technology and deploy mining machinery to extract coal from the mines. Of the 34 identified mines, West Bengal-based Eastern Coalfields Limited and Jharkhand-based Bharat Coking Coal Limited account for 10 each. Western Coalfields Limited has 5, South Eastern Coalfields Limited has 4, Mahanadi Coalfields Limited has 3, and Central Coalfields Limited has 2.

In a bid to increase domestic coal output, Centre to auction 60 coal blocks today

New Delhi, India's total <keyword id="6383145" type="General" weightage="20" keywordseo="Coal-production" source="Orion">coal production</keyword> rose 8.40 per cent to 222.93 million tonne (MT) in April-June 2023-24, an official statement said on Monday. The country's overall coal output was 205.65 MT in the year-ago quarter, the Ministry of Coal said. Captive mines /others registered a growth of 4.74 per cent to 30.48 MT in Q1 FY24, from 29.10 MT in Q1 FY23. The cumulative coal dispatch grew 6.97 per cent to 239.69 MT in Q1 this fiscal compared to 224.08 MT in Q1 of FY23. The total coal stock, as of June 30, 2023, surged 37.62 per cent to 107.15 MT (provisional) from 77.86 MT a year ago. "This growth indicates the continued efforts to meet the rising demand for coal," the ministry said. State-owned <keyword id="45383" type="General" weightage="100" keywordseo="coal-India" source="Orion">Coal India</keyword> Limited (CIL) has recorded 9.85 per cent growth, with production reaching 175.35 MT in Q1 FY24 compared to 159.63 MT a year ago. India will not face any coal shortage this year, even during the monsoon, Coal and Mines Minister Pralhad Joshi said last month.

India's coal output grows 8.40% to 222.93 MT in April-June 2023

<keyword id="6355222" type="PERSON" weightage="20" keywordseo="Piyush-Goyal">Piyush Goyal</keyword>, minister of state (independent charge) for power, coal and renewable energy, has said that the government would boost coal production “to the maximum extent possible.” In order to achieve this objective, it would pave way for environment and forest clearances and coordinate with state governments for land acquisition. 
 “Coal India Limited (<keyword id="63069" type="CITY" weightage="20" keywordseo="CIL">CIL</keyword>) is enhancing production through capacity addition from new projects, use of mass production technologies, and identification of existing ongoing projects with growth potential,” he said. He further said that CIL is in the process of getting more high-efficiency hydrostatic drills to increase its drilling capacity for exploration. 
 The <keyword id="172444" type="POSITION" weightage="20" keywordseo="coal-minister">coal minister</keyword> added that the Central Mine Planning &amp; Design Institute (CMPDIL), which undertakes exploration for CIL, has signed a Memorandum of Understanding (MoU) with Mineral Exploration Corporation (MEC) to boost exploration. 
 
Referring to the import of coal in spite of having huge reserves of coal, Goyal said, “India has adequate coal reserves for meeting its coal requirements and as such these reserves would be adequate to meet the coal requirement at the present demand level. However, at the present juncture, the actual production of coal falls short of the overall demand.”

Govt To Boost Production Of Coal, Says Coal Minister

Developed countries should raise taxes on coal production to help raise money for a $100 billion-a-year fund that is supposed to help poorer countries tackle climate change but are short of cash, India's environment minister said on Wednesday. 
 An agreement to finance the fund was a major part of the landmark <keyword id="3332395" type="UNKNOWN" weightage="100" keywordseo="Paris-climate-change-accord">Paris climate change accord</keyword> forged in December after four years of fraught negotiations, but <keyword id="119642" type="PERSON" weightage="100" keywordseo="Prakash-Javadekar">Prakash Javadekar</keyword> told Reuters rich countries were failing to stick to their part of the bargain while asking countries such as India to do more. 
 India, which wants to double its coal output by 2020, in February raised the <keyword id="3332396" type="UNKNOWN" weightage="100" keywordseo="tax-on-mining-coal">tax on mining coal</keyword> to $6 per tonne from $1 in a bid to make it more expensive to consume the dirty fuel. 
 
Javadekar said India's tax was the highest in the world and that developed countries should follow suit. 
 
"If they follow India and levy a tax of $5-$6 a tonne on coal production, $100 billion can easily be mobilised," Javadekar said in an interview at his New Delhi home. "Today only $10 billion is available on the table. Even a country like America is promising only $3 billion ..." 
 
This week Javadekar will travel to New York, where the United States, China and other leading economies will formally accede to the Paris agreement. 
 
The accord proposed a $100 billion annual fund until 2025 to help poor countries like India counter the threat of climate change. 
India, the world's second-most populous country after China, is home to 17 percent the world's population but consumes less per capita coal than the United States. 
 
But while countries such as the United States are cutting coal consumption, India's appetite is surging, raising questions about its willingness to lower greenhouse gas emissions. 
 
GENETICALLY MODIFIED CROPS 
 
Javadekar, who is responsible for reviewing applications on genetically modified (GM) crops, said his ministry had yet to decide on whether to allow the commercial launch of a transgenic mustard variety developed by a group of Indian scientists. 
 
The government has held three meetings on the mustard variety in the past four months, he said. 
 
India does not allow the cultivation of GM food crops, but supporters say high-yielding GM mustard seeds could cut India's annual edible oil import bill of more than $10 billion. 
 
"We're considering it but the safety of food is a very important aspect of India's ethos," Javadekar said. "Every country takes its decision as per its national policy. We're not stopping science from progressing." 
 
Any win for the mustard variety will also help the cause of U.S. firm Monsanto, which is also developing GM corn varieties to be sold in India if allowed. 
 
<a href="http://www.danielberehulak.com/media/original/2012_Jharia_master-1.jpg">Image source</a>

India is helping tackle climate change by taxing coal production and developed countries should learn from us

Coal India Limited (<keyword id="19983407" type="General" weightage="20" keywordseo="CIL" source="keywords">CIL</keyword>) achieved an 8 per cent <keyword id="19910261" type="General" weightage="20" keywordseo="growth" source="keywords">growth</keyword> in <keyword id="19922489" type="General" weightage="20" keywordseo="coal-production" source="keywords">coal production</keyword>, reaching 189.3 million <keyword id="22246379" type="General" weightage="20" keywordseo="tonnes" source="keywords">tonnes</keyword> in the first quarter of the current fiscal, surpassing its target of 189.2 million tonnes, the company said in a statement on Monday. The company's production increased by 13.8 million tonnes compared to the corresponding quarter of FY'24, with all seven producing subsidiaries registering positive growth, it said. CIL's supplies also rose by 6 per cent to 198.4 million tonnes during April-June 2024, with a significant increase in supplies to both power and non-power sectors, it added. The company's coal loading witnessed healthy growth, with an average of 367.2 rakes per day, a 10.3 per cent year-on-year increase, it said. Higher production and loading resulted in a substantial increase in coal inventory at CIL's pitheads, reaching 81.5 million tonnes, providing a sufficient buffer to meet any sudden surge in demand, it said. At a time when power demand in the country is surging, the miner stepped up its supplies to coal-fired plants, registering a 4 per cent growth to 160 million tonnes in <keyword id="20501879" type="General" weightage="20" keywordseo="Q1" source="keywords">Q1</keyword> FY'25, a year-on-year increase of 6 million tonnes. In the same period of FY 2024, CIL's off-take to thermal power plants stood at 154 million tonnes, the company said. Additionally, CIL's supplies to the non-power sector reached an all-time high of 38.4 million tonnes in Q1FY25, logging a 16 per cent growth. This sector had received 33 million tonnes in April-June 2023. The growth in June 2024 alone was 23 per cent at 13.4 million tonnes, the statement said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank">Vraj Iron and Steel IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

Coal India's Q1 production surges 8% to 189.3 million tonne in FY'25

Vadodara, Feb 17 () Union minister Pralhad Joshi has said the Centre aims self-sufficiency in the coal sector by 2024 and the changes in the coal mining policy have been effected to achieve the same.Joshi -- Union Minister for Parliamentary Affairs, Mines and Coal -- was speaking at a two-day brainstorming session in Narmada district, about 100 km from Vadodara. Senior officials of the coal ministry, chairmen and managing directors of public sector undertakings are attending the event.Joshi said India stood fifth in terms of coal reserves and the Centre wasworking towards achieving self-sufficiency in coal production. He also talked about a move of the government that opens up the sector to players outside steel and power as well as removes end-use restrictions. Adding that the move is likely to create an efficient energy market and bring in more competition as well as reduce coal imports. In 2018, the government allowed commercial mining by private entities and set a mining target of 1.5 billion tonnes by 2020. Out of this, 1 billion tonnes was set to be from Coal India, while 500 million tonnes was to be from non-Coal India entities. This target has now been revised to 1 billion tonnes by 2023-24, Joshi stated. COR RSY MKJ

India aims to be self-sufficient in coal production by 2024: Joshi

New Delhi, Dec 14 () The coal ministry on Saturday said it has allocated one mine each to state-run firms National Mineral Development Corporation (NMDC) and Rashtriya Ispat Nigam Ltd (RINL).
 The mines, located in Jharkhand, will boost coking coal production and reduce the steel industry's dependence on imported coal, it added.
 "The Ministry of Coal has allotted two Coking Coal mines, Rohne and Rabodih, to the Steel Central Public Sector Enterprises (CPSEs)," it said in a statement.
 Allocated under the Coal Mines (Special Provision) Act, 2015, these mines will increase coal production by more than 10 MT (million tonnes) per annum and boost the coking coal production in the country.
 The ministry said this is a significant step towards reducing the dependence of the steel industry on imported coal.
 The Rohne coal mine has been allotted to NMDC for sale of coal and will also serve the purpose of captive use of coking coal for its upcoming steel plant at Nagarnar.
 The Robodih OCP coal mine has been allotted to RINL for captive use of production of iron and steel.
 These mines will over their lifetime generate about Rs 7,000 crore revenue for the state government, besides royalties and other applicable taxes.
 Both NMDC and RINL would set up their washeries for washing coal.
 This allotment is in addition to five coal mines which have been allocated to successful bidders and six mines which have allotted to PSUs.
 In all, the 13 mines will add more than 35 MT per annum coal to domestic production. Apart from the royalties and applicable taxes, the mines are slated to generate about Rs 31,000 crore revenue over their lifetime for state governments. KKS ABM

Coal Min allocates one mine each to NMDC, RINL; to add 10 MT output every year

New Delhi, March 27 () Coal India Ltd (CIL) on Friday said despite the constraints on account of coronavirus outbreak, it recorded close to 3 million tonnes (MT) production on Thursday, the second highest single day production during the fiscal. Coal is an 'essential service' as recognized under Emergency Services Maintenance Act (ESMA) 1981, and services engaged in coal industry are 'public utility service'. "Coal production by CIL recorded close to 3 MTs on Thursday, the second highest one day's production this fiscal, despite the constraints in the wake of corona virus pandemic," CIL said in a statement. The company has been averaging 2.56 MTs production per day during the current month with supplies averaging 1.75 MTs. "Coal being the important primary fuel for the country there will be no let up in coal production" the company said, adding "we are mobilizing all our resources and will keep on resolving the issues and continue to produce, notwithstanding the adversities". The statement said that the top brass of the Maharatna public sector undertaking is in contact with the Ministry of Coal and state administrations to synergise the efforts necessary to keep up with production and despatches. Daily coordination meetings are being held with CMDs of subsidiary companies to monitor the production and upping the medical facilities. Important materials necessary for production, like explosives, spares, tyres, machine parts and other services, are being procured on war footing, it said, adding authorities of different state administration have been contacted to grant relaxation for movement of these materials, essential for coal mining, from COVID-19 lockdown. The Ministry of Home Affairs in an addendum on Wednesday clarified that coal mining and associated operations are exempt from lockdown. "There is sufficient buffer with over 107 MTs of coal stock available in the system at CIL's pitheads and at thermal power stations of the country combined and there is no immediate cause of any coal shortage worry," it said. The company said the well-being and safety of operational personnel is top priority and required medical facilities are being perked up with medical teams on high alert. Quarantine measures are being put in place, should the need arise, the statement added. Coal India accounts for over 80 per cent of the total domestic production. NAM RVK

Coal India continues operations, records about 3 MT production on Thursday

Vadodara, Feb 18 () Union Coal and Mines Minister Pralhad Joshi has announced that the government looks to stop the substitutable import of thermal coal from 2023-24. The government wants to bridge the substitutable shortfall by 2023-24, he told on the sidelines of a two-day brainstorming session organised at Kevadia in neighbouring Bharuch district, about 90 km from Vadodara. The government recently introduced an ordinance to amend regulations to open up coal mining to other firms outside of the steel and power sectors, Joshi stated. "Whatever the substitutable shortfall is there, we want toachieve it by 2023-2024. We want to stop the substitutable import of the coal." The government may conduct an auction of 100 fully explored blocks, Joshi said.The latest move in the coal sector is expected to create an efficient energy market, thereby bringing more competition, while reducing coal imports.The brainstorming session that started on Monday was organised to discuss out of the box solutions to overcome various bottle necks in increasing coal production and provide innovative solutions to the coal sector, Joshi said. Highlighting key takeaways of the session, Joshi said various ways and means were discussed with key stakeholders to achieve 1 billion tonnes coal production target by Coal India by 2023-24. The ministry of coal will coordinate with Indian Railways and shipping ministry to enable Coal India to evacuate more coal by 2030. Stressing upon the diversification in the coal sector, Joshi said that idea has also been mooted at the session that CIL could think of coming up with the art of pithead thermal power plants to transform it into an integrated company. He said it was also proposed that CIL could generate 5GW of solar power by 2023-24 and could diversify into coal gasification with a target of 5 million tonnes by 2030 enabling a sustainable energy mix for the country. He also announced that the ministry of coal will introduce an award to recognize and appreciate best practices in coal production, productivity, sustainability etc by coal companies. COR RSY MRMR

India looks to stop thermal coal import by 2023-24:Joshi

New Delhi, Nov 22 () Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of this fiscal.
 Fuel supply by Coal India in the year-ago period was 276.8 million tonnes (MT), according to official data.
 The supply of coal to power sector by CIL in October dropped by 19.3 per cent to 33.8 MT, over 41.9 MT in October last fiscal.
 With torrential rains hitting coal production, Coal India had said that it was keeping a close watch on the current situation to ensure smooth supplies to power plants.
 CIL saw its output decline by 6 per cent to 241 MT in April-September on account of monsoon.
 "CIL is gearing up to regain its production tempo and keep coal supplies to power sector going after the torrential rainfall across its subsidiaries dealt a crippling blow to the company's coal production and offtake," the company had said in a statement.
 CIL had said that a team of officials is closely monitoring coal supplies to power plants and is working on plans to divert coal to fuel-starved plants.
 The state-owned firm had earlier said that it will produce 750 million tonnes of coal in the next financial year.
 The PSU will further produce 1 billion tonnes of coal by FY2024, Coal Minister Pralhad Joshi had said.
 The PSU is currently given the target of producing 660 million tonnes of coal amounting to 82 per cent of the country's coal output.
 Joshi had said that with the demand for power rising steeply, there is enough opportunity for both government and private sectors to produce coal without adversely impacting each other. SID DRR

Coal supply by CIL to power sector drops over 8 pc to 253 MT in April-October

New Delhi, The <keyword id="1259130" type="PERSON" weightage="20" keywordseo="production-cost">production cost</keyword> of India's steel producers using the blast furnace route would remain contained in the near term due to China's ban on <keyword id="10497991" type="UNKNOWN" weightage="20" keywordseo="australian-coking-coal">Australian coking coal</keyword>, India Ratings and Research (<keyword id="1704466" type="COMPANY" weightage="20" keywordseo="Ind-Ra">Ind-Ra</keyword>) said. Accordingly, the <keyword id="10497992" type="UNKNOWN" weightage="20" keywordseo="chinese-move">Chinese move</keyword> will lead to softer coking coal prices which shall directly support EBITDA per tonne accretion of around Rs 2,600 over FY21 for companies using the blast furnace route. "Such companies are likely to have reduced cost of <keyword id="113521" type="PERSON" weightage="20" keywordseo="steel-production">steel production</keyword> by around ₹1,800 per tonne YoY in 2HFY21, supported by the reduced cost of coking coal per tonne of around ₹7,300," Ind-Ra said in a report. As per Ind-Ra, China's ban has led to negative bias on coking coal prices. It expects Australia premium hard coking coal (HCC) CNF prices would be around $120 per tonne over remaining FY21, except for any weather-related supply disruptions in Australia. "Despite China's healthy steel production growth of 7% YoY in the first 7MFY21, its coking coal imports have significantly reduced by 12% as against an increase of 14% YoY in FY20, reflecting the country's increased reliance on domestic coking coal. "Considering the low coking coal imports by China in 7MFY21 and a possible further reduction amid China's ban on Australian coking coal, an excess supply would build-up unless Australian miners reduce their output considerably. "Hence, Ind-Ra understands coking coal prices would remained soft although other major coking coal importers such as India, Japan and South Korea's production levels have recovered them to pre-covid levels," Ind-Ra added. Lately, China and Australia were the largest coking coal trade partners in the world. China's imports and Australia's exports, respectively, form 40% and 65% of the world's overall coking coal trade. "As Chinese end-users are likely to increase their domestic coal production or import coking coal from countries such as Indonesia, Russia, Canada and the US, Indian buyers would gain more bargaining power with Australian coking coal. "India and China have been the largest consumers of Australian coking coal, competing with each other and composing 25% and 24% respectively, of Australia's total metallurgical coal exports." SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/stock-market/news/there-are-one-of-only-17-indian-companies-out-of-500-that-aced-the-du-pont-test/articleshow/79911627.cms">There are one of only 17 Indian companies out of 500 that aced the Du Pont test</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-buyback-offer-details-and-700-million-metro-ag-deal-drives-share-price/articleshow/79911875.cms">Wipro offers 10% more to buy back shares and signs a $700 million deal with Metro AG – everything that’s driving the IT services stock higher today</a>

You Searched For "coal production" and got 13 results

Coal production rose by 32% and coal-fired power generation increased too, says ministry

IANS

Increasing Coal Production More Important Than Restructuring Coal India: Coal Minister

BI India Bureau

In a bid to increase domestic coal output, Centre to auction 60 coal blocks today

ANI

India's coal output grows 8.40% to 222.93 MT in April-June 2023

PTI

Govt To Boost Production Of Coal, Says Coal Minister

BI India Bureau

India is helping tackle climate change by taxing coal production and developed countries should learn from us

BI India Bureau

Coal India's Q1 production surges 8% to 189.3 million tonne in FY'25

PTI

India aims to be self-sufficient in coal production by 2024: Joshi

PTI

Coal Min allocates one mine each to NMDC, RINL; to add 10 MT output every year

PTI

Coal India continues operations, records about 3 MT production on Thursday

PTI

India looks to stop thermal coal import by 2023-24:Joshi

PTI

Coal supply by CIL to power sector drops over 8 pc to 253 MT in April-October

PTI

China's ban on Australian coking coal to benefit India's steel producers, says India Ratings and Research

IANS

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