Employees, currently 42,000, are working 24x7 in both underground & opencast coal mines to produce and despatch enough coal to its linked power plants, so that there should be no disruption in electricity supply in the country at present necessary to combat the menace of COVID-19, WCL said in a press release. Coal Mining activity has been declared as Essential Service.
Commenting on the new appointment, Vedanta Ltd chairman, Navin Agarwal said: "We extend a warm welcome to Sunil Duggal who has been a mature and proven leader and held key leadership positions, as our Interim CEO. We look forward to Sunil taking the company to greater heights."
While the 21-day lockdown has brought life to a standstill in most parts of the country, mining and transportation of ore continued in Odisha’s mineral belts.
Coal India provides jobs to one or two members of affected families. Often, people demand jobs for every family member, and at times refuse to part with land, lading to delays and cost overruns. Centre has estimated the number of jobs demanded in lieu of land to be in excess of 85,000. If offered, it would raise manpower costs and hurt productivity.
This time, following spread of Corona Virus , the exercise will be completed on April 27. According to a notice issued by the company, physical stock measurement is to be completed within seven days, by April 22.
"In pursuance of the fresh directive of the Government of Goa for extending the janata curfew for 3 more days and extending the furnaces shutdown for longer period, necessary job for taking proper furnace shutdown will be taken tonight so that furnace shutdown can be extended for 3 more days", the company said.
According to the statement, most of its power sector consumers have started regulating coal receipt by filing lesser or no rail movement programs at all. Following increased production and supplies from the subsidiary, fuel stocks at most these plants are adequate for 35-40 days, one of the highest ever, prompting them to regulate receipt of the dry fuel.
Metals and mining giant Vedanta Ltd on Sunday announced setting up of a Rs 100-crore fund to combat the coronavirus outbreak.
Coal India has been gearing up to enhance production levels for the past several weeks and would be holding on to the current production levels, at least, till monsoons when production takes a hit as pits get flooded following heavy rains.
The model, proposed by additional coal secretary VK Tiwari at a recent meeting, is expected to reduce the cost of operation by 10% and make land acquisition easier. The plan will soon be implemented on a trial basis at two coal producing subsidiaries of Coal India. If needed, laws would be amended to facilitate it. ET has reviewed documents related to the proposal.
Law and order issues have delayed land acquisition, which may delay projects and pose obstacles for the company in achieving its target of producing 1billion tonnes of coal by 2024. It is expected to produce 610 million tonnes this year. The target for 2020-21is 750 million tonnes.
A set of state-government owned power plants from Uttar Pradesh, West Bengal, Andhra Pradesh, Tamil Nadu and Rajasthan are not paying dues regularly on time which has inflated the overall receivables. All this has bloated the total receivables by Rs 5,700 crore this year.
"With both the mining and tourism sectors witnessing a bleak future, full scale mining operations should immediately commence," GMPF said in an official statement. Mining activities in Goa came to a standsill with effect from March 16, 2018 which has affected over 3 lakh Goan livelihoods resulting in job losses and severe and unemployment in the state.
Coal offered through long-term supply contract auctions, spot or forward e-auctions find takers from some particular sources. The plan is to supply import substitute fuel from sources that will not affect supplies under existing schemes. Coal India is focused on raising supply for import substitution and is in regular talks with power producers.
India's coal imports registered a decline of 14.1 per cent to 17.01 million tonnes (MT) in February in the wake of the coronavirus outbreak, as per industry data.
"Coal stock at thermal power plants in the country has risen to the highest ever inventory of 39.48 million tonne on March 11, sufficient for 23 days," he said. The stock is expected to further increase during the remaining days of the current fiscal, the official said.
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