Coal India Ltd's dismal output in August, its lowest in three years, is bad news not only for the country's mining behemoth but also for country's biggest transporter, Indian Railways.

With half of its freight movement dependent upon coal transportation, Railways is staring at goods trains lying idle impacting its revenues.

Calcutta, Sept. 5: Coal India Ltd (CIL) could fall short of its production target of close to 1 billion tonnes by 2019-20 unless there is an improvement in offtake.

In the first five months of 2016-17, cumulative offtake stood at 211.38 million tonnes (mt), a growth of 0.2 per cent over the year-ago period. Production at 194.81mt grew only 1.3 per cent during the period.

New Delhi: Coal India Ltd., the world’s biggest miner of the fuel, reported the lowest production and shipments in three years after heavy rains flooded its mines.

Coal production in August dropped 10.4% from a year ago to 32.4 million metric tons and shipments declined 9.6% to 36.72 million tons, both plunging to the lowest since the same month in 2013. Rains and local agitations cut output by 2.4 million tons, N. Kumar, technical director at the miner, said on Wednesday.

Calcutta, Aug. 29: Coal India has surrendered its prospecting licences in Mozambique in Africa because of a lack of opportunity for commercial exploitation.

The public sector miner, through its subsidiary Coal India Africana Limitada, had acquired the licences for mining in August 2009, covering an area of 224 square kilometres (sq km).

Kolkata: Coal India Ltd has budgeted for a capital expenditure of Rs.7,765 crore in the current year to expand mining capacity as the world’s biggest coal miner pursues an aggressive production growth target of 13% year-on-year.

In addition to that, the company is looking to spend Rs.5,069 crore on other projects, which include building railway tracks to connect mines, setting up a super critical thermal power plant and reviving fertilizer plants.

Dispatch of coal by CIL to the power sector went up 1.1 per cent to 131.1 million tonnes (MT) in the April-July period of this fiscal even as the PSU workers announced to go on a nationwide day-long strike next week.

The dispatch by Coal India (CIL) in the corresponding period of last financial year was 129.6 MT, according to official data.

New Delhi: Coal India workers will go on a nation-wide strike on 2 September to mark their protest against further divestment and strategic sale in the sector.

“We have received a communication of notice... for strike on September 2. Efforts are being made for conciliation process,” Coal India said in a regulatory filing on Saturday. “In case they resort to strike, it will affect product and dispatch of coal.”

Calcutta, Aug. 17: The Centre expects to collect Rs 23,944.4 crore from Coal India subsidiaries in the current fiscal as clean environment cess.

The levy on coal, lignite and peat came into effect from August 2010, and the budget this year has doubled it to Rs 400 per tonne from Rs 200 per tonne.

Less than a year after the coal industry was declared to be in terminal decline, the fossil fuel has staged its steepest price rally in over half a decade, making it one of the hottest major commodities.

Cargo prices for Australian thermal coal from its Newcastle terminal, seen as the Asian benchmark, have soared over 35 percent since mid-June to more than one-year highs of almost $70 a tonne, pushed by surprise increases in Chinese imports.

KOLKATA: Coal India plans to put in place a massive health database and cashless hospitalisation system for its 6.5lakh employees and former employees.

It will help the company manage its medical benefit system better. Individuals would be handed over smart cards that will carry their health history as well as their balance medical benefit entitlement, which when presented at hospitals will act as cashless card and allow doctors to access their past medical history.

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