COAL AUCTION
Coal India to tweak e-auction norms to ease process
Coal India Ltd (CIL) will revamp its electronic window system, allocation methodology, capping auction hours, and adjusting transport premiums. The July 11 concept note proposed changes, including allowing road transport. Subsidiaries, except Northern Coalfields, must up e-auction offers to 40% in Q2 and Q3 FY25. Reserve prices are premium; CIL reduced earnest money deposits and increased quantities.
Coal India to ease e-auction norms; plans to tweak auction, allocation methodology
Coal India Limited (CIL) has lowered earnest money deposit and increased dry fuel quantity in e-auctions to encourage increased participation. The company has asked all its arms, except Northern Coalfields Ltd, to increase their offer quantity under e-auction to 40% of their total production for the second and third quarters of this financial year.
Coal production from captive, commercial mines up 35% in Q1
The coal industry experienced a notable increase in production and dispatch in the first quarter of the fiscal year, with a significant rise in output from various sectors and mines. The coal ministry's report highlighted positive growth trends in the industry.
Maiki South Mining secures India's first Lithium and REE blocks of Chhattisgarh with FPO of 76.05%
On Monday, Union Minister G Kishan Reddy granted the first Lithium block, Katghora, and the Rare Earth Element (REE) Block of Chhattisgarh to Maiki South Mining Private Limited, with a Final Percentage Ownership (FPO) of 76.05%. India currently depends significantly on imports to fulfill its demand for crucial minerals such as Lithium, Niobium, and Rare Earth Elements (REE). These minerals are essential for emerging technologies like electric vehicles, pharmaceuticals, and defense manufacturing.
Govt to launch fourth tranche of auction for critical and strategic mineral blocks on Monday
The Ministry of Mines will launch the 4th tranche of auctions for critical and strategic mineral blocks on Monday in New Delhi. Union Minister G Kishan Reddy and Minister of State Satish Chandra Dubey will inaugurate the event. The launch follows amendments to the MMDR Act, allowing the Central Government to issue mineral concessions for 24 critical minerals. The event will announce the preferred bidders of the 1st tranche, present certificates to Notified Private Exploration Agencies, and introduce a scheme for partial reimbursement of exploration expenses.
Round 10 of commercial coal block auctions launched, 67 mines on offer
Union Coal and Mines Minister G Kishan Reddy launched the 10th round of commercial coal mine auctions, including 67 mines, to enhance domestic production and energy security. With a focus on reducing imports and increasing production, he highlighted coal's significance, aiming for one billion tons production by 2024-25.
Union Minister G Kishan Reddy to launch 10th round of commercial coal auctions on Friday
Union Minister G Kishan Reddy to launch 10th round of commercial coal auctions with 60 mines on sale to enhance domestic production and energy security.
Govt in talks to revamp SHAKTI policy for coal linkage process
The government is considering overhauling the Scheme for Harnessing and Allocating Koyala Transparently in India (SHAKTI) policy. Under the proposed changes, private electricity projects that signed power purchase agreements (PPAs) before May 17, 2017, may need to participate in auctions to secure coal linkage, which is priced higher than the notified price.
Tenth round of commercial coal block auction to kick off next week
Coal produced from the 62 blocks is permitted to be sold by the companies in the free market. So far, nine rounds of commercial coal auctions have taken place since 2020 and 107 coal blocks have been auctioned with 256 million tonnes peak rated capacity.
Centre may seek nod for coal exchange
The coal ministry is expected to seek approval for India's first coal trading exchange as part of its 100-day action plan. The exchange aims to facilitate transparent coal trading for both captive and commercial auction holders, potentially leading to better prices for consumers. Surplus stock from Coal India Ltd may also be traded on the exchange. The ministry's plan includes upgrading coal transportation and loading systems, adding 600 MW of thermal power capacity by NLC India Ltd, and bidding out around 10 coal gasification projects.
Coal India's contribution to govt exchequer drops 2.2 per cent to Rs 9,560 crore in April-May
Coal India Ltd's contribution to the government's exchequer decreased by 2.2% to Rs 9,560.28 crore in April-May of the current fiscal year, down from Rs 9,777.64 crore in the previous year. Total levies paid to the government in May rose to Rs 4,763.20 crore. State governments receive revenue from coal production through royalties, GST, and other levies, with Jharkhand and Odisha receiving the highest amounts.
India offers a special auction of discovered small oil and gas fields
The Indian government is offering three small oil and gas fields in an auction closing on July 15. The Directorate General of Hydrocarbons announced the bid round, with two fields in Mumbai offshore and one coal bed methane field in West Bengal. These fields were previously discovered but left undeveloped. Private players have the opportunity for exploration and full pricing and marketing freedom.
Hindalco in process of bidding for two nickel, cobalt mines in Maharashtra, Karnataka: MD
Key minerals like copper, lithium, nickel, cobalt, and rare earth elements are crucial elements in numerous rapidly expanding clean energy technologies, ranging from wind turbines and electrical grids to electric vehicles.
Coal India, NMDC, OVL look to secure critical mineral assets abroad
CIL, NMDC, OVL, and KABIL are collaborating to secure critical minerals overseas, focusing on lithium for EV batteries. India defines 30 critical minerals to meet energy transition goals for various sectors.
Coal India, NMDC exploring lithium mines overseas
State-run miners Coal India and NMDC are venturing into lithium mines in Chile and Australia, aiming to secure critical minerals. India's Mines Ministry encourages state-owned firms like ONGC Videsh to explore overseas. Delegations will visit Zambia and Congo for joint exploration. India eyes trade pacts for access to critical minerals globally, including with Chile and Mongolia.
Coal mine auction likely in May, 30 new blocks to be put on offer
The coal ministry will auction coal mines by May 10 to boost domestic production, reduce imports, and encourage imported coal-based power plants to switch to domestic fuel, aiming for zero thermal coal imports.
Results of ninth coal auctions within two weeks, says coal ministry official
As many as 32 coal mines were put into action in the 9th round. "It will take another two weeks to announce the results of the 9th round. Within it, it will be announced," the official told PTI. As per official information, a total of 40 bids have been received in offline form.
Govt carried out coal auctions after tweaking rules, alleges Cong citing CAG reports
The opposition party also asked why no action was taken by the government and the prime minister on letters by two BJP leaders raising concerns over the coal auctions. It further asked whether the government would order an ED investigation into the matter.
Notified price for coal gasification soon: Coal Ministry
The Ministry of Coal is planning to offer coal at a notified price for coal gasification projects to boost the sector. This move aims to ensure that the industry does not face a shortage of coal. Coal gasification is a process that converts coal into synthesis gas, which is cleaner than coal combustion. The Union Cabinet has approved a coal and lignite gasification programme with viability gap funding worth Rs 8,500 crore for both public and private sectors.
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