Latest news with #CoalIndiaLimited
New Indian Express
17 hours ago
- Business
- New Indian Express
Coal India reports 34% growth in eco-friendly coal transport in FY25
NEW DELHI: State-owned Coal India Limited (CIL) recorded a 34% year-on-year growth in environmentally friendly coal transportation in FY 2025, moving 102.5 million tonnes (MT) through 20 First Mile Connectivity (FMC) projects linked to the Indian Railways network. In comparison, 76.5 MT was transported in FY 2024 through 17 such projects. In the current financial year, up to the end of May, CIL registered a 36.7% increase in coal dispatch via FMC projects, compared to 15 MT during the same period last year. CIL, India's largest coal miner, also plans to commission 19 additional FMC projects with a combined capacity of nearly 150 million tonnes per year (MT/Y) during FY 2026. FMC is an automated coal evacuation system that enables environment-friendly coal transportation from the pithead to loading points using piped conveyor belts. 'We expect to transport an additional 20 million tonnes through FMC projects in the ongoing financial year,' said a senior CIL official.
Time of India
4 days ago
- Business
- Time of India
WCL registers record profit before tax for fiscal ending March 2025
Nagpur: Public sector mining company Western Coalfields Limited (WCL) registered a profit before tax (PBT) of Rs 4,375.55 crore for the fiscal ending March 2025. With a growth of 4.64%, this is the highest ever profit in absolute terms since the company's inception, according to a note shared with TOI. The books of accounts were presented to the company's board of directors last week. WCL was formed in 1975 after nationalisation of coal mines in the country. Headquartered in Nagpur, WCL is one of the subsidiaries of Coal India Limited (CIL). The company's revenue for the fiscal ending March 2025 stood at over Rs 15,300 crore. "The profit was maintained due to the relentless growth and coordination between various segments of WCL," said the PSU's director (finance), Bikram Ghosh. The company hopes to maintain the trend in the current fiscal year as well. The early trends have been favourable in the current financial year too, he said. WCL has more than 47 mines located across Maharashtra and Madhya Pradesh. As its profits have seen a major jump over the years, WCL paid an interim dividend of Rs 500 crore to its parent company Coal India Limited (CIL) in the last fiscal, said an official in the finance department.
Business Upturn
28-05-2025
- Business
- Business Upturn
Coal India named preferred bidder for graphite and vanadium block in Chhattisgarh
Coal India Limited (CIL), the state-run Maharatna company, has been declared the preferred bidder by the Ministry of Mines, Government of India, for the Oranga-Revatipur Graphite and Vanadium Block located in the Balrampur-Ramanujganj district of Chhattisgarh. The block was auctioned for a mining lease under Tranche V, as per the Mines and Minerals (Development and Regulation) Act, 1957. The company received formal communication via a letter dated May 27, 2025, and informed stock exchanges about the development under Regulation 30 of SEBI (LODR) Regulations, 2015. Advertisement Key details of the awarded block: Block Area : 366.478 hectares Graphite Resource : 9.28 million tonnes at 2% fixed carbon (FC) cutoff, with an average grade of 5.48% FC Vanadium Resource : 0.70 million tonnes at 1000 ppm cutoff, with a weighted average grade of 1211.64 ppm (G2 stage) Mining Premium : CIL will pay 189.75% of the value of the mineral dispatched as mining premium to the government Timeline: The mining lease deed is to be executed within three years from the issuance of the Letter of Intent by the State Government The project is entirely domestic in nature, and neither CIL's promoter group nor related parties have any interest in the awarding authority. This new mining block is expected to further enhance CIL's diversification into strategic minerals, expanding beyond its core coal portfolio. Disclaimer: This news report is based on regulatory filings by the company and is intended for informational purposes only. It does not constitute investment advice.
Time of India
28-05-2025
- Business
- Time of India
Coal India unit CMPDIL files draft papers with SEBI for IPO
New Delhi: Coal India Limited (CIL) has filed the Draft Red Herring Prospectus (DRHP) for the proposed initial public offering (IPO) of its wholly owned subsidiary, Central Mine Planning & Design Institute Limited ( CMPDIL ), with the Securities and Exchange Board of India ( SEBI ), Bombay Stock Exchange (BSE), and National Stock Exchange of India Limited (NSE). The IPO comprises an offer for sale of up to 7.14 crore (71,400,000) equity shares by Coal India Limited, the company said in a regulatory filing. The filing was made on May 26, 2025, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The IPO remains subject to the receipt of applicable approvals, market conditions, and other relevant considerations, the company said. CMPDIL is a wholly owned subsidiary of Coal India Limited and provides mine planning and consultancy services in the coal sector.
Time of India
24-05-2025
- Business
- Time of India
Coal ministry sets FY26 production target at 1,150 MT; proposes coal trading exchange, policy reforms
New Delhi: The Ministry of Coal has set a coal production target of 1,150.39 million tonnes (MT) for the financial year 2025-26, with Coal India Limited and its subsidiaries contributing 875 MT, Singareni Collieries Company Limited (SCCL) 72 MT, and captive and other producers 203.39 MT. To further open up the coal market, the ministry has proposed the establishment of a Coal Trading Exchange (CTE) for online trading, clearing, and settlement. Legislative backing is being sought for the exchange through amendments to the Mines and Minerals (Development and Regulation) Act, 1957. A draft Cabinet note was circulated on March 7, 2025, and public comments have also been invited via the ministry's website. The ministry is also planning to allow coal linkages without a specified end use, requiring changes to the Non-Regulated Sector (NRS) linkage auction policy of 2016. Auctions to NRS sub-sectors under the current policy will continue. In terms of quality assurance, the government will increase the grade conformity of Third Party Sampling beyond the current 80% achieved in FY25. The system, introduced in 2015, ensures quality at the loading end and now covers both power and non-power consumers. Currently, 12 agencies are empanelled for this task. A coal production and dispatch target of 203.4 MT has been set for FY26 from auctioned mines. The government plans to launch three auctions during the year and aims to successfully auction 25 mines. Twelve mines are expected to receive mine opening permissions, while seven may begin production. Amendments to the Mineral Concession Rules, 1960, are proposed to implement new guidelines for mining and mine closure plans issued in January 2025. These changes would permit coverage beyond block boundaries and allow minor changes in plans with company board approval. To intensify coal exploration, a drilling target of 10 lakh meters has been set for FY26 under the Central Sector Scheme, NMET, CIL, and private sector. An outlay of ₹750 crore has been approved. Exploration efforts will focus on high GCV and coking coal areas and include revisions to guidelines for forest areas and seismic surveys. The ministry has set a target of producing 42 MT from underground coal mining in FY26. The strategy includes deployment of Continuous Miners, operationalising mines through Mine Developer and Operator (MDO) mode, and introducing revenue share rebates in commercial coal auctions. Land acquisition initiatives for FY26 include operationalising the Coal Land Acquisition and Management Portal (CLAMP), establishing a special tribunal in Talcher, amending the CBA (A&D) Act, 1957, and creating a land database under PM Gati Shakti. Mutation of 80% of CPSU-acquired land is also targeted.
