Coal India Ltd, the world's largest coal miner, said on Thursday its annual production fell for the second straight year, as lower electricity consumption due to coronavirus-induced lockdowns hurt fuel demand. Coal sales fell 1.3% to 573.8 million tonnes, the company said in a statement. "Primarily, what hurt Coal India's supplies was reduced coal lifting by the power Sector," the miner said.
Coal India Ltd, the world's largest coal miner, could venture into solar wafer manufacturing and wants to "aggressively" participate in the country's solar energy auctions, its chairman told Reuters on Tuesday. Pramod Agarwal said its joint venture with state-run NLC India Ltd plans to invest around 125 billion rupees ($1.73 billion) in solar power projects with a capacity of 3,000 megawatts, of which Coal India will invest some 60 billion rupees by March 2024. At the same time, it plans to keep closing small mines and stay away from opening those that would entail mass hiring, Agarwal said.
Real estate, infrastructure and pharmaceutical companies were among the winners of India's first coal mine auctions open to the private sector without restrictions on end-use, the government said on Monday. Coal production in India has largely been restricted to state-run Coal India Ltd <COAL.NS> and another smaller government-controlled company, but Prime Minister Narendra Modi opened up the industry to the private sector this year.