CILs coking coal production drops by 9% in May
Coal India Ltd's (CIL) coking coal production was 4.96 MT in May 2024.
The government under its 'Mission Coking Coal' aims to increase domestic coking coal production to 140 million tonne (MT) by 2029-30, thereby reducing dependency on its imports for the steel sector.
Coking coal, also known as metallurgical coal, is essential for steel production.
The company's coking coal production also dropped by 3.4 per cent to 9.36 MT in the April-May period over 9.69 MT in the year-ago period, as per the government's provisional data.
CIL subsidiaries including Bharat Coking Coal Ltd (BCCL) and Central Coalfields Limited (CCL) produce coking coal. BCCL is specifically known for its focus on coking coal production.
CIL accounts for over 80 per cent of domestic coal production.
The government has taken steps to enhance utilisation of indigenous coking coal, improving energy efficiency and decarbonisation of domestic steel sector. Coal companies and steel industries are focusing on increasing domestic coal washing capacity to reduce ash content of coal and make it fit for use in the steel industry.
Stamp charged coke oven batteries are also being used in steel plants to increase usage of domestic coking coal.
Coking Coal is being imported by the steel sector mainly to bridge the gap between the requirement and indigenous availability and to improve the quality.
In the last fiscal, the coking coal import was 57.58 MT, as per the provisional data.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
an hour ago
- News18
EIH Ltd profit falls to Rs 36.88 cr in Q1
Agency: PTI Last Updated: New Delhi, Aug 5 (PTI) EIH Ltd, the flagship company of luxury hotel chain The Oberoi Group, on Tuesday reported a consolidated net profit of Rs 36.88 crore for the June quarter. The company had reported a net profit of Rs 96.75 crore in the year-ago period. It's total income from operations stood at Rs 609.06 crore for the April-June quarter, as against Rs 559.91 crore during the corresponding period of the previous year, as per a regulatory filing. The company's total expenses rose to Rs 452.95 crore during the quarter, from Rs 429.68 crore a year ago. PTI RSN TRB Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
an hour ago
- Mint
Trump to impose new tariffs on pharmaceuticals in ‘next week or so' — ‘It is going to go to 250%'
US President Donald Trump has announced that new US tariffs on semiconductor and pharmaceutical imports will be imposed 'within the next week or so.' The move is part of the administration's broader strategy to use trade levies to bring manufacturing back to the US and target key economic sectors, PTI reported. In a recent interview on CNBC, Trump outlined his tariff plan. 'We'll be putting an initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150% and then it's going to go to 250% because we want pharmaceuticals made in our country,' he said. The news report said this follows Trump's recent demand that major suppliers of medicines drastically cut costs or face additional, unspecified penalties. The world's largest drugmakers, including Merck & Co. and Eli Lilly & Co., operate scores of manufacturing sites across the globe. Nearly 90% of US biotech companies rely on imported components for at least half of their approved products, according to the Biotechnology Innovation Organization. In addition to imposing tariffs on pharmaceuticals, the president also revealed his plan to target the chip industry by stating, 'We're going to be announcing on semiconductors and chips, which is a separate category.' The Commerce Department has been investigating the semiconductor market since April to set the stage for possible tariffs on an industry that's expected to generate nearly $700 billion in global sales. These levies could lead to a sharp increase in costs for major data centre operators including Microsoft Corp, OpenAI, Meta Platforms Inc and Amazon that plan on investing billions of dollars in advanced semiconductors to propel their artificial intelligence businesses. Unlike some of the administration's previous country-specific tariffs, which have faced court challenges, these new sectoral tariffs have a stronger legal footing. These sectoral tariffs on pharmaceuticals, metals and other industries stem from trade investigations that can last about nine months and are based on national security groups under Section 232 of the Trade Expansion Act. Those so-called reciprocal tariffs are slated to go into effect on Thursday, PTI reported. The Trump administration has already used this authority to impose levies on imports of cars and auto parts as well as steel and aluminum.
Time of India
an hour ago
- Time of India
Business outlook: Business confidence index jumps to 149.4 in April-June; NCAER survey flags optimism in sales
India's business sentiment saw a sharp uptick in the April-June quarter, with the Business Confidence Index (BCI) rising to 149.4 from 139.3 in the previous quarter, according to the latest Business Expectations Survey by the National Council of Applied Economic Research (NCAER). The index is built on four key components: expectations of overall economic improvement over the next six months, anticipated improvement in firms' financial positions, views on the present investment climate, and whether capacity utilisation is close to or above optimal levels, PTI reported. NCAER noted that more than 60% of respondents expressed positive views across all four parameters. 'The share of positive responses remained above 60% for each component, and every component exhibited an improving trend compared to the previous quarter,' the think tank said. Optimism around production and domestic demand was particularly strong. Around 78.7% of firms said they expect production to rise in the next six months, while 79.1% anticipated an increase in domestic sales. Export sentiment also strengthened, with 66.5% of respondents expecting a rise in outbound shipments of finished goods. Firms were also more positive about their import requirements, with 54.3% expecting an increase in raw material imports, up from 46.1% in the previous quarter—a sign of expected acceleration in domestic manufacturing activity. Nearly 61% of companies surveyed expected pre-tax profits to rise over the next six months, indicating continued buoyancy in business operations. However, this optimism was not reflected in the labour market outlook. Hiring and wage expectations remained unchanged, suggesting a stagnation in employment sentiment. 'With moderation in costs, firms were more optimistic about the next six months,' said NCAER Professor Bornali Bhandari, who led the survey. The survey, conducted in June, covered 479 companies across six major Indian cities. Stay informed with the latest business news, updates on bank holidays and public holidays .
