Mining Industries Correspondent
Krishna's Feed
Sep 4, 2014

Coal India rushes to supply power plants with critically low stocks

NEW DELHI, Sept 4 (Reuters) – Coal India is
rushing to supply coal it has sourced from railway sidings,
loading areas and other places over the years to feed power
plants critically short of the fuel, a company official with
knowledge of the matter said.

The move is part of emergency measures taken by the state
giant to prevent a shutdown of nearly one third of India’s
thermal power plants that have coal stocks of less than four
days – a situation last seen in one of the worst blackouts in
2012. A few power firms have already switched off some units.

Aug 29, 2014

Indian power station coal stocks lowest since 2012 blackouts

NEW DELHI, Aug 29 (Reuters) – Half of India’s thermal power
stations have less than a week’s supply of coal on hand,
according to weekly data, the lowest level since mid-2012 when
hundreds of millions of people were cut off in one of the
world’s worst blackouts.

There was a sharp fall in power output on Thursday from a
plant in the western state of Gujarat that left India more than
9,000 megawatts short of peak demand, according to two officials
at the state grid operator.

Aug 28, 2014

India to chip in with 5 pct of global rare earth output

NEW DELHI (Reuters) – India is commissioning a plant to produce up to 5,000 tonnes of rare earths a year, a state company official told Reuters, which could help it contribute about 5 percent to the global supply of the metals used in cameras, cars, iPhones and wind turbines.

India’s emergence as a supplier, albeit a small one, would be good news for countries like Japan, which up to now have had to rely mostly on China for rare earths production.

Aug 28, 2014

India to chip in with five percent of global rare earth output

NEW DELHI (Reuters) – India is commissioning a plant to produce up to 5,000 tonnes of rare earths a year, a state company official told Reuters, which could help it contribute about 5 percent to the global supply of the metals used in cameras, cars, iPhones and wind turbines.

India’s emergence as a supplier, albeit a small one, would be good news for countries like Japan, which up to now have had to rely mostly on China for rare earths production.

Aug 27, 2014

India’s coal crunch – a chance to revamp, reallocate and revive

NEW DELHI/MUMBAI (Reuters) – A court ruling this week that India’s decades-old method of granting coal mining concessions is illegal could herald much-needed reforms in a sector long dogged by the inability of state-run Coal India to raise output fast enough.

In declaring scores of coal block allocations made since 1993 unlawful and arbitrary, the Supreme Court has put investments worth billions of dollars at risk.

Aug 25, 2014

Supreme Court says government coal allocations illegal

NEW DELHI (Reuters) – The Supreme Court on Monday declared as illegal government allocations of coal blocks since 1993, jeopardising projects built around the blocks and threatening to exacerbate a shortage of the fuel.

The government’s awards of more than 200 coal blocks to steel, cement and power companies has been at the centre of a scandal Indian media has dubbed “Coalgate”, with an auditor report in 2012 saying the underpriced sales had cost the exchequer as much as $33 billion.

Aug 25, 2014

India’s top court says government coal allocations illegal

NEW DELHI, Aug 25 (Reuters) – India’s top court on Monday
declared as illegal government allocations of coal blocks since
1993, jeopardising projects built around the blocks and
threatening to exacerbate a shortage of the fuel.

The government’s awards of more than 200 coal blocks to
steel, cement and power companies has been at the centre of a
scandal Indian media has dubbed “Coalgate”, with an auditor
report in 2012 saying the underpriced sales had cost the
exchequer as much as $33 billion.

Aug 13, 2014

Steelmaker JSW says Lucchini sale is not a done deal

NEW DELHI/LONDON (Reuters) – Italy’s claims that a sale of parts of insolvent Italian steelmaker Lucchini to India’s JSW Steel will be concluded within days are premature, a top JSW executive said on Wednesday.

Lucchini, formerly owned by Russia’s Severstal, was declared insolvent in 2012 and placed under special administration after falling victim to plunging European demand for steel during the 2008 recession.

Aug 13, 2014

Indian steelmaker JSW says Lucchini sale is not a done deal

NEW DELHI/LONDON (Reuters) – Italy’s claims that a sale of parts of insolvent Italian steelmaker Lucchini to India’s JSW Steel will be concluded within days are premature, a top JSW executive said on Wednesday.

Lucchini, formerly owned by Russia’s Severstal, was declared insolvent in 2012 and placed under special administration after falling victim to plunging European demand for steel during the 2008 recession.

Aug 12, 2014

Bhushan Steel says servicing debt so far

NEW DELHI (Reuters) – Bhushan Steel Ltd (BSSL.NS: Quote, Profile, Research), a debt-ridden company whose managing director was arrested last week in a bribery case involving a bank chairman, has so far been able to service its loans, its finance director told Reuters on Tuesday.

The Central Bureau of Investigation (CBI), India’s top crime-fighting agency, arrested Sudhir Kumar Jain, the chairman of mid-sized state-run lender Syndicate Bank Ltd (SBNK.NS: Quote, Profile, Research) earlier this month over allegations of taking bribes to grant loan extensions to Bhushan Steel.

    • About Krishna

      "I have been covering India's metals and mining industries from New Delhi since April Fool’s Day, 2013. Before that I led two teams of reporters covering small-and-medium-sized U.S./Canada-listed energy and resources companies. I have closely followed the solar and shipping industries and love to write on cricket whenever I can."
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
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