The U.S. Interior Department has said it will try to overturn a Bush administration rule that made it easier for coal mining companies to dump mountaintop debris into valley streams. The action is the latest blow to the coal industry, which defends mountaintop mining as a safer, cheaper alternative to traditional underground mining.
Narmada Hydroelectric Power Corporation, a NHPC subsidiary, which is setting up a 1,000 MW thermal project in Madhya Pradesh announced to have approached the Coal Ministry for providing fuel linkage to the project. For full story, click here
Tata Power has planned to file an appeal in the Supreme after the Delhi High Court dismissed the Tatas’ petition on diversion of surplus coal from blocks allotted to the Sasan ultra mega power project. For full story, click here
Upgrade season is on and for coal and things seem to be heating up. Coal prices appear to be at a bottom and credit markets are beginning to work again, which should provide a positive catalyst for the industry. Cancellations of mining projects stabilized in February as well. To add to the positive news, J.P. Morgan on Monday upgraded mining firms Joy Global (JOYG) and Bucyrus International Inc. (BUCY) to neutral from underweight.
Coal supplies seems to have improved in the last one month with 68 per cent of the power plants having stock of more than seven days, a development that could lead to lesser power cuts during the summer season. For full story, click here
Coal India Ltd, the country’s leading coal producer, has assured supply of 313 million tonnes of the fuel to power firms under a long-term contract for 2009-10. CIL Chairman Partha S Bhattacharyya stated: We will be giving 307 million tonnes of coal under the long-term fuel-supply agreement to the facilities commissioned till March 2009. Additional [...]
China Datang Corp, one of the country’s five leading power generators, has been given the go-ahead to expand into the coal-mining business. For full story, click here
Coal exploration and development company CIC Energy, which is developing the Mmamabula Energy Project in Botswana expects to commence supplying power to the grid in early 2013. For full story, click here
The Power Ministry declared that it has enhanced the coal imports target of electricity generation units by about 15% to 28.7 million tonnes in 2009-10 to ensure that the utilities do not reel under any dry fuel shortage. For full story, click here
Tata Power Company reported that the company has no intentions to sell its stake in two Indonesian coal mines owned by PT Bumi Resources For full story, click here
Get our independent commentary on coal trends and companies delivered to your inbox.
