India's FY18 thermal coal imports up 8%
The recent government data showed that India’s thermal coal and coking coal imports rose by 8 per cent and 13 per cent respectively, for the first time in three financial years. The increase in imports will be a boon for international miners like Indonesia's Adaro Energy, Australia's Whitehaven Coal and global commodity merchants such as Glencore.
Bidders had choice to bid for 'indexe' fuel cost
At the time of bidding for the Gujarat UMPP and also in the Case-2 Bidding based on imported coal, the bidders had a choice to bid for an (indexed÷ fuel cost, which meant that any variations in fuel cost could be passed through to the procurers based on an indexation formula defined in the PPA.
PPT logs highest coal traffic
Paradeep Port Trust (PPT) logged the highest thermal coal traffic coal traffic among all major ports logging 12.5 MT in the April-August period under review. This is 13.07 per cent higher than 11.09 MT in the same period in the previous fiscal.
Steep fall in coal price stalls Tata Power-PT Bumi Resources deal
The transaction between Tata Power and Indonesia-based PT Bumi Resources Tbk for the sale of 30 per cent stake in PT Arutmin Indonesia, which was struck in January 2014, has been stalled as falling coal prices have left Bumi´s cash flows under pressure.
Jharkhand govt signs MoU for coal evacuation project
The Union Ministries of Coal and Railways have signed an MoU with Jharkhand Government to form a three-way joint venture for coal evacuation logistics from the North Karanpura coalfield area in the state.
ICVL seeks user cos to lift Mozambique thermal coal
International Coal Ventures Ltd (ICVL) has received expressions of interest (EoI) from four companies - two each for chemicals and power generation for setting up pit-head chemical and power generation facilities at ICVL´s 5.2-million-tonne per annum mixed-coal Benga mine in Mozambique, NC Jha, Managing Director of ICVL, Mozambique, said.
NTPC to bid for coal blocks
NTPC, the country´s biggest power generator and thermal coal consumer, will bid for coal blocks due to be auctioned in January as it seeks to expand capacity and secure fuel to run its power stations, a top company executive said.
´Possible to stop imports of thermal coal´
India, the world´s third-largest buyer of overseas coal, may be able to stop imports of power-generating thermal coal in the next three years as state behemoth Coal India steps up production, the country´s Power and Coal Minister has said.
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