India’s steel industry needs sustained government intervention: Kearney

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Targeting India’s high cost of finance, global consultancy firm Kearney, formerly A T Kearney, has prescribed a deeper and sustained government participation for India to create a globally competitive steel industry. “India’s higher cost of financing makes it difficult for domestic players to operate capacity expansion plans. The industry needs a financial stimulus and should […]

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CIL hikes rates from 1 December; additional revenue earmarked for employees’ pension fund

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Public Sector miner Coal India (CIL) will increase prices of thermal coal for both regulated and non-regulated sectors across grades by Rs 10 per tonne effective from December 1, 2020. The company has informed the stock exchanges that the entire additional revenue generated for the price increase will go to the corpus of the Coal Mines Pension […]

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Import of thermal and coking coal at major Indian ports decline by 25% in the first 6 months of FY21

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Disruptions caused by the COVID-19 pandemic continued to impact cargo movement in India, with thermal and coking coal imports at 12 major ports falling by 25 per cent year-on-year to 55.41 million tonnes (MT) during April-September, according to the apex ports’ body IPA. Coal volumes at the 12 major ports declined for the sixth straight […]

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China approves merger of two coal giants

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China has approved the merger of two of Shandong province’s top state-owned coal miners, Shandong Energy Group and Yankuang Group, a decision that effectively creates a new major company in the world’s top producer and consumer of the fossil fuel. The combined company, China’s second-largest coal producer after China Energy Investment Corporation (CEIC), will operate under the […]

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