Bloomberg reported that Coal India (BSE:533278) is rumored to have dropped a large ten-year coal import deal.
Vilified as a dirty energy source in advanced industrialized economies, coal is booming around the world. Emerging economies are the critical driving force behind the continued growth, but barriers do exist.
Bloomberg reported that Coal India (BSE:533278) will be asked by India's government to cap coal prices and swallow increased payroll costs.
Bloomberg reported that total coal imports to India were up approximately 7.6% in 2011 over the previous year.
In 2012, China is apt to be the driving force of the coal markets, followed by its fellow emerging markets.
MarketWatch reported that weakness in the rupee may negatively affect profits for Coal India (BSE:533278).
The Hindu reported that India's Coal Ministry is considering the requirement that surplus coal production would be sold to Coal India (BSE:533278).
Mineweb reported that India's coal imports have gone up significantly since last year.
IBTimes reported that lower coal production targets by Coal India (BSE:533278) mean the country could face power outages.
Mineweb reported that Vedanta Resources (LSE:VED) will participate in an upcoming Indian coal auction.
Wednesday, February 1, 2012