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Ajoy K Das

Global Mining News in real time

Ajoy K Das

Coal India faces challenges in finding merchant bankers for planned overseas acquisitions

28th February 2020 State-miner Coal India Limited’s (CIL’s) planned investment in overseas coal assets is facing stiff speed-breakers, with global merchant bankers unwilling to take up an advisory and due diligence mandate of so-called ‘dirty fuel’. Last year, the miner floated a tender to appoint merchant bankers... →

India fails yet again to make Fraser Institute’s investment destination ranking

27th February 2020 The Indian mining industry has squarely blamed the country’s present mining policy and adoption of mandatory auction for allocation of mineral assets as the cause of the country not featuring in Fraser Institute’s global survey gauging investment attractiveness. “The current mining policy has... →

Coal dispatch in India declines but thermal power plants have sufficient stocks amid economic slowdown

27th February 2020 Despite a decline in coal supplies to the power sector by State-miner, Coal India Limited (CIL), during April 2019 to January 2020, no thermal power plant of India’s largest power producer, NTPC, is facing any shortage of dry fuel, indicating low demand for energy and overall economic slowdown.... →

India likely to slash domestic natural gas price by 25%

27th February 2020 India is likely to slash domestic natural gas prices, in view of the fall in global prices and the forecast of sustained low demand in key markets in the wake of the coronavirus spread. Sources said that as per the administered price mechanism (APM) governing the domestic natural gas price, the... →

NCL firms up plans to increase power generation capacity

25th February 2020 India’s NLC has firmed up plans to increased downstream activity, targeting power generation of 21 011 MW by 2025, of which at least 20% will be from renewable energy sources. In the current financial year, with the commissioning of the 500 MW first unit at Neyveli New thermal power project,... →

India’s SCCL firms up capex to achieve 67.5Mt production next year

25th February 2020 India’s Singareni Collieries Company Limited (SCCL) has firmed up capital expenditure (capex) of $423-million for 2020/21 and increased its coal production target to 67.5-million tons, up from the targeted 66-million tons of the current financial year. The SCCL board last week approved the... →

ONGC likely to report production decline

24th February 2020 Indian State run oil, gas exploration and production (E&P) major ONGC is expected to report 3.4% decline in production during current financial year, closing on March 31, 2020. According to a company official, during the first nine months of the financial year, ONGC’s production was maintained... →

Prospective coal block bidders seek bundled approvals

24th February 2020 Large Indian coal consuming companies planning to enter commercial coal mining have asked the government to bundle mandatory approvals before putting up blocks for auction. The companies made a presentation at a recent meeting where government sought input from various stakeholders on best... →

India’s Coal Ministry to fund CIL technical wing to increase exploration activity

21st February 2020 The Indian government has framed a scheme to offer funds to the technical and consultancy arm of State miner Coal India Limited (CIL) to expand exploration activities so that more fully explored coal blocks could be put up for auction for bidding by private miners. Under the scheme, Central... →

India’s NMDC firms up capex to lift production by 50%

18th February 2020 Indian State-run miner NMDC, the country’s largest iron-ore producer, has firmed up capital investments of $324-million to increase production by 50% to 48-million tons a year by the end of 2020/21. The State miner is committing higher capital expenditure (capex) and is significantly ramping up... →

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