Coal India on Friday has signed the much-awaited fuel supply agreement with NTPC for the supply of coal to the thermal power generating company, having both penalty and bonus clauses. Mr Partha S Bhattacharyya, Chairman, CIL, stated: Coal India signed the model FSA with NTPC, which represents all PSU power utilities. The tenure of the [...]
Read the full article: "Coal India, NTPC has signed fuel supply pact"
Friday, May 29, 2009
Mine operator Foundation Coal Holdings Inc. on Friday declared that its Central Appalachian affiliates are slashing output levels to meet current demand and laying off 60 workers. For full story, click here
Read the full article: "Foundation Coal Holdings stated cuts in..."
Friday, May 29, 2009
Coal Minister Sriprakash Jaiswal declared that the government may consider raising the price of coal, depending on the economic situation. Jaiswal stated: With the changes in the economic scenario and price rise in products like petroleum, along with the impact of Sixth Pay Commission on Coal India, if required the coal prices could be increased. [...]
Read the full article: "Govt. to consider hiking coal prices: Jaiswal"
Friday, May 29, 2009
China has tentatively agreed to majority finance an ambitious US$ 5.15 billion Queensland coal mine project, as the north Asian giant continues its relentless pursuit of Australia’s resource assets. Australia’s Waratah Coal Pty Ltd. announced in Brisbane on Thursday that it has entered into a deal with China’s Metallurgical Group Corporation (MCC) for developing the country’s largest thermal coal mine in Queensland at a cost of A$6.6 billion.
Read the full article: "Relentless Pursuit Engages Coal"
Thursday, May 28, 2009
The CBI has registered cases against three officials of Bharat Coking Coal and four officials of a private firm in Dhanbad for allegedly cheating the state-run coal company of Rs 65 lakh. For full story, click here
Read the full article: "CBI has filed cases against three Bharat..."
Thursday, May 28, 2009
Steel Authority of India Ltd, the nation’s second-biggest steelmaker, declared a dip in profit for the second straight quarter as metal prices fell and coal costs remained at a record. For full story, click here
Read the full article: "Steel Authority Profit dipped on prices,..."
Thursday, May 28, 2009
International Coal Ventures, the special purpose vehicle of five leading PSUs to scout coal properties abroad will close acqusition of four mining blocks in Mozambique with estimated reserves of 900 million tonnes. For full story, click here
Read the full article: "ICL Ventures will close acquistion of four..."
Wednesday, May 27, 2009
Weighed down by the Rs 4,000 crore per annum on account of the upward revision in salaries of its 400,000 employees under the National Coal Wage Agreement, Coal India Limited is set to go in for an across-the-board hike in coal prices. For full story, click here
Read the full article: "CIL declared that it may hike price of all..."
Wednesday, May 27, 2009
Philippine electricity producer National Power Corp. announced that it has awarded a contract to oil and gas explorer PNOC-Exploration Corp to supply 100,000 tonnes of coal to the state-run power firm. For full story, click here
Read the full article: "Napocor has awarded 100,000 T coal contract..."
Wednesday, May 27, 2009
South Africa’s Solidarity labour union declared that it had rejected an offer for a 6.5 percent wage raise made by coal producers. For full story, click here
Read the full article: "South African Union has rejected Coal..."
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Friday, May 29, 2009