India is on a coal buying spree ad the nation is scrambling to cover an expected shortfall in domestic supply. Coal majors are entertaining all levels of deals, from minority stakes in mines to becoming an operator. Many are chasing stakes in large-scale mines of 10 million to 15 million tonnes a year. Also being eyed are mid-sized thermal coal blocks in Australia.
Continue reading "India Seeks Coal"
Thursday, August 20, 2009
Essar Exploration & Production India Ltd has planned to spend some $350 million in the next three to four years to fund drilling of 500 wells in a coal-bed methane block in eastern India. For full story, click here
Continue reading "Essar will spend $350 mln on Coal Bed Methane"
Wednesday, August 19, 2009
Commenting on the company’s initial public offer plans, Partha S Bhattacharyya, Chairman, Coal India, says, “We see a one-year timeframe for the IPO. It will primarily be from disinvestment of government stake.” For full story, click here
Continue reading "Coal India will Divest Govt. Stake Via IPO Within a Year"
Wednesday, August 19, 2009
India’s MMTC Ltd. will soon re-issue a tender to import 12.5 million tonnes of thermal coal with new rules aimed at enhancing competition. For full story, click here
Continue reading "India's MMTC will re-issue Coal Tender Soon"
Wednesday, August 12, 2009
State-run miner Coal India Ltd plans to surged up to $1.25 bln by selling 10 percent through an initial public offer expected within a year. For full story, click here
Continue reading "Coal India Eyed $1.25 bln IPO in a Year"
Tuesday, August 11, 2009
The public sector Coal India Ltd. has planned to import around four million tonnes of coal within this fiscal, CIL Director, Marketing, A. K. Sarkar, said. Given the lower calorific value of Indian coal, the proposed quantum is equivalent to six million tonnes of domestic coal. For full story, click here
Continue reading "Coal India will import 4 mln tonnes"
Monday, August 10, 2009
India plans to begin e-auction of coal mines for captive use by industries in 2010, Junior Coal Minister Sriprakash Jaiswal said on Monday. For full story, click here
Continue reading "India has planned E-Auction of Coal Blocks in 2010"
Wednesday, August 5, 2009
India’s leading power generation utility, NTPC Ltd, may directly import the coal it needs, instead of asking state-owned trading firms such as MMTC Ltd and State Trading Corp. of India Ltd. to import the fuel for it. For full story, click here
Continue reading "NTPC looks like to Bypass State Trading Firms on Coal Imports"
Thursday, July 30, 2009
By the middle of 2010, Coal India Ltd may enter into joint ventures with global majors as well as domestic companies for resuming mining at 18 abandoned mines for which it had invited expressions of interest in 2008. For full story, click here
Continue reading "Coal India will form Joint Ventures"
Tuesday, July 28, 2009
Coal India Ltd. hopes to float joint ventures for extracting coal from abandoned mines by the middle of 2010. Bids for the joint ventures are likely to be in placed by end of the current calendar. Mr Partha S Bhattacharyya, chairman CIL, declared: The JVs for extracting coal from abandoned mines will be in place [...]
Continue reading "Coal India is hoping to float JVs"
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Wednesday, September 16, 2009