New legislation to introduce competitive bidding for coalOctober 7th, 2009 NEW DELHI - In a bid to introduce competitive bidding for allocation of coal blocks and benefit consuming industries, the government will soon replace the Mines and Minerals Development Regulation Act, 1957, a senior official said Wednesday. "The new draft bill would be placed before the cabinet soon.
Malay Mukherjee steps down from ArcelorMittal boardSeptember 1st, 2009 LONDON - Malay Mukherjee, a leading expert in steelmaking, has stepped down from the board of directors of ArcelorMittal, the company announced Tuesday. Mukherjee, a former executive at the public sector Steel Authority of India Limited (SAIL), quit to pursue other interests, the company said.
Demand growth for steel to cross 10 percent soon: Steel SecretaryAugust 25th, 2009 NEW DELHI - Steel Secretary P R Rastogi on Tuesday said that the growth in steel demand in the country would soon cross 10 percent, as soon as the effects of global economic slowdown would be over. Rastogi said this while addressing the third meeting of the Inter-Ministerial Group on Steel in the national capital.
Patriot Coal to shut down W.Va. surface mine, focus production at lower-cost operationsAugust 3rd, 2009 Patriot Coal to close W.Va. surface mineCHARLESTON, W.Va.
Nine firms in race for lifting coal from abandoned minesJuly 28th, 2009 KOLKATA - Nine private players are in the race for extracting coal from 18 abandoned underground mines belonging to three subsidiaries of the state-run Coal India Ltd (CIL), according to a top official. CIL had received expressions of interest from 17 companies for developing the mines, which have a total reserve of around 1,647 million tonnes.
Russian regional governor threatens to take ArcelorMittal minesJuly 10th, 2009 ArcelorMittal's Russian mines under threatMOSCOW — ArcelorMittal, the world's largest steelmaker, could lose ownership of two West Siberian coal mines if it fails to bolster production, an Russian regional governor warned. Aman Tuleyev, who heads the Kemerovo region where the two coalmines are located, made the warning to ArcelorMittal chief executive Lakshmi Mittal in a letter posted on the government Web site Thursday.
Coal price index to be launched in JulyJune 30th, 2009 BHUBANESWAR - India will soon get a coal index to track the coal price movement in the country. India's leading e-commerce company Mjunction Services Ltd will launch the index in the second week of July, a company official said Tuesday.
Orissa wants more coal mine allocationJune 30th, 2009 BHUBANESWAR - Accusing the central government of bias in coal mine allocation, Orissa Tuesday demanded more coal to fuel its industrialisation drive. Speaking at a seminar organised by the Confederation of Indian Industry (CII), a state official said Orissa gets only 7.67 percent of the total coal allocation though it has 24.29 percent of the total coal reserves in the country.
Utah coal operators back away from deep mining 2 years after disastrous Crandall collapseJune 28th, 2009 Utah's deep coal operators under heavy regulationHELPER, Utah — Two years after a deadly Utah mine collapsed, the state's coal operators are backing away from rich coal reserves held deep under the ground. Coal mines have come under intense scrutiny in every part of the country, with the Mine Safety and Health Administration tripling fines against all coal mines last year.
State-run firms tie up to secure coal supplies abroadMay 21st, 2009 MUMBAI - State-run energy firms have floated a joint venture for overseas acquisition of coal mines and securing cooking and thermal coals supplies. The new company, International Coal Ventures, would be formed in collaboration with Steel Authority of India (SAIL), Coal India (CIL), Rashtriya Ispat Nigam (RINL), NMDC and NTPC, formerly National Thermal POwer Corp.
Coal producer Massey plans 6 pct average pay cut amid slumping coal pricesApril 29th, 2009 Massey plans pay cuts amid low coal demandCHARLESTON, W.Va. — Coal producer Massey Energy's shares are up more than 24 percent after it announced plans to slash wages and benefits for all employees about 6 percent in the face of declining demand and prices.
Coal producer Massey plans 6% average pay cutApril 29th, 2009 Massey plans 6% average pay cutCHARLESTON, W.Va. — Coal producer Massey Energy's shares are up more than 22 percent after it announced plans to slash wages and benefits for all employees about 6 percent in the face of declining demand and prices.
Coal India to invest Rs.100 bn to revive mines in JhariaFebruary 17th, 2009 NEW DELHI - State-run Coal India Ltd will invest Rs.100 billion (Rs.10,000 crore) to revive coal mines at Jharia in Jharkhand, a top official said here Wednesday. 'Jharia coal mines are highly under-utilised and only coking coal is produced there.
ArcelorMittal to get government land for steel projectFebruary 12th, 2009 RANCHI - Steel major ArcelorMittal will be given government land to set up its proposed Rs.400-billion (Rs.40,000-crore) steel project in Jharkhand, state Industries Director Rahul Sharma said Friday. 'We have asked ArcelorMittal representatives to deposit Rs.12.5 crore (Rs.125 million) to Gumla district to get 1,000 acres of government land.
Fresh deposits for coal, iron ore found in ChhattisgarhFebruary 4th, 2009 RAIPUR - Mineral-rich Chhattisgarh has hit another goldmine: a fresh discovery of 90 million tonnes of coal and a little over 22 million tonnes of iron ore. 'Deposits of 50 million tonnes of coal have been found in Korba district and 40 million tonnes of coal in Raigarh district,' says the Economic Survey of the state government.