Miners also asked to explain why contiguous leases have bot been combined though Rule 38 of Mineral Concession rules 1960

The Supreme Court-appointed Central Empowered Committee (CEC) investigating into alleged illegal mining activities has asked mining companies operating in Goa to explain violations of rules, even as miners brace themselves for the impact of a continuing ban on mining activities in the state. “The CEC sought our views on four issues including placement of dumps outside lease boundaries, contiguous nature of some mines, transfer of leases and the Supreme Court’s interpretation of the buffer zone issue, in its meeting with the mining association members on Wednesday,” a member of the Goa Mineral Ore Exporters Association (GMOEA) said.

CIL is charged of discriminating in favour of public sector firms in the reworked format of fuel supply agreements

The private power producers' lobby has taken state-run Coal India Ltd (CIL) to the Competition Commission of India (CCI) over the long-standing issue of fuel supply pacts. The lobby has blamed CIL of discrimination in favour of public sector companies in the reworked format of the fuel supply agreements (FSAs).

Proposal was mooted by coal and power ministries to curb profiteering by miners

The law ministry has raised questions about the logic behind making rate-based bidding mandatory for coal miners. “The law ministry has asked the coal ministry whether rate-based bidding actually benefits consumers of power. The ministry is now seeking the power ministry’s opinion on the query,” a senior official close to the development told Business Standard.

Dip could flatten firm?s cushion against stagnation in productivity

In a distress signal for the world’s largest coal miner, Coal India Ltd’s (CIL’s) spot sales dipped for the first time in the five years since the e-auction, or spot sales, scheme was launched in 2007. Revenue from e-auction is expected to fall 14 per cent to Rs 5,286 crore during the first half of the current financial year, compared with the Rs 6,134 crore during the same period of 2011-12. The dip could flatten CIL’s cushion against stagnation in productivity.

The coal ministry has asked all the coal-bearing states to plug existing loopholes in the process of allocation and development of reserves as part of the guidelines being finalised for competitive

Says mine valuation should be based on global prices

Research agency CRISIL has recommended linking the valuation of coal reserves to be put up for bidding to international prices. In its draft report on coal block auctioning, CRISIL has said giving subsidies for use of natural resources does not provide incentives for market participants to judiciously utilise the scare resource in the long run.

The details of how the reserve price would be calculated and the quantum of the outgo for the world's largest coal miner are yet to be worked out

There may be no going back on bidding for coal blocks by the government, but a new policy would put a price on mining rights for even government-controlled Coal India Ltd (CIL). The coal ministry has decided to charge CIL a “reserve price” for the 116 coal blocks allotted to the state-owned miner. “We are going to ask CIL to pay a reserve price for all the 116 blocks allocated to the company last month. No reserves would be allocated for free now,” a senior coal ministry official told Business Standard.

India’s state-owned power generator NTPC Ltd is still awaiting re-allocation of five of its coal mines allocations for which were cancelled earlier due to delays in production.

The cancelled coal blocks, in addition to the other three awarded to the company, hold the key to the company’s future fuel securing strategy. NTPC consumes around 120 MT coal annually to fire its 36,000 Mw power generation capacity.

After slugging over the trigger level in the new Fuel Supply Agreements (FSAs), the two have entered into a blame game over Merry-Go-Round (MGR), a method of dispatch

The battle between the energy sector’s two giants, both government-owned, Coal India Ltd (CIL) and power generator NTPC, does not seem to be ending. After slugging over the trigger level in the new Fuel Supply Agreements (FSAs), the two have entered into a blame game over Merry-Go-Round (MGR), a method of dispatch.

Change of ownership at Veerangana Steels under scanner

The government’s high-level panel looking into the controversial coal block allocations for captive mining has decided against cancelling three blocks, given to Nagpur-based Shree Veerangana Steels. This is despite the company facing the government’s ire for having allegedly sold its blocks by selling ownership of the firm, in violation of the norms. The inter-ministerial group (IMG) had in its review meeting on Wednesday recommended deducting the company’s bank guarantee but said the block should not be cancelled, due to the progress made by Veerangana in developing the reserves.