On Wednesday, the Supreme Court denied a request to modify its June 25 decision, upholding state governments’ legislative authority to impose taxes on mineral rights and mineral-bearing lands in addition to royalties with future effect. This authority also permits these levies to be collected from “mining firms and the Center” as of April 1, 2005….
Due to the statistical impact of a high base, the growth of “core sectors” decreased to 5.2% in March from 7.1% in February, according to figures issued by the trade ministry on Tuesday. On the other hand, the output of eight key industries increased sequentially in March by 9.9%, the highest rate in a year….
The Union Minister for Coal and Mines stated on Thursday that the nation is optimistic about reaching the 1 billion tonne objective of coal output by the end of the fiscal year 2023–2024, given the accomplishment of almost 900 million tonnes of domestic coal production to date. According to him, as of March 7, 43.5…
Speaking on the necessity of implementing abated coal solutions for the energy transition, Michelle Manook, Chief Executive Officer of the World Coal Association, which has since been renamed FutureCoal, said that Coal India Ltd. will invest around $54.5 billion in abated coal projects over the next ten years. The coalition believes that coal is essential…
According to Fitch Ratings, strong industrial activity would likely fuel a 7% annual increase in domestic power demand in 2023–2024. The rating agency stated in a report that it anticipates a further shortening of the receivable days (or payment cycle) in the near future. Based on strong industrial activity, Fitch Ratings projects that India’s electricity…
As per an official announcement, in September 2023, the National Coal Index (NCI) has climbed by 3.83 points to 143.91 points, reflecting the shift in coal prices. As per the Ministry of Coal’s statement, this increase can be attributed to a brief surge in coal prices on international markets. “For the first time since April…
India produced 78.65 million metric tonnes (MT) of coal in October, an increase of 18.59%.In the same month in the previous fiscal year, the nation produced 66.32 MT. The state-owned CIL produced 15.36% more coal in October of this year (61.07 MT) than it did in the same month last year (52.94 MT), according to…
According to the coal ministry, more than one billion tons of coal would probably be shipped in the current fiscal year. This was announced on Thursday. During the current fiscal year, the coal ministry aims to produce and deliver 1,012 million tonnes (MT) of coal to customers. The rate of production and dispatch is often…
State-owned Coal India increased its supply of coal to the power sector by 3.4 percent to 294.8 million tonnes in the first six months of the current fiscal, despite record high demand for electricity in the previous two months, the Maharatna business said on Monday. Coal India Ltd (CIL) said in a statement that the…
When compared to the same month the previous year, India’s mineral output increased by 10.7% in July 2023. According to a Ministry of Mines announcement, the index of mineral production in the mining and quarrying industry was 111.9 in July 2023, which is 10.7 percent higher than the previous month. According to preliminary data from…
