Coal news and updates

CIL hikes coal prices for WCL by 10%

December 18: Coal India Ltd (CIL) has hiked prices of non-coking coal produced by its subsidiary, Western Coalfields Ltd (WCL), by 10% with effect from December 17, 2013.

“On account of the increase, Western Coalfields will earn additional revenues of Rs 139.84 crore for 2013-14," CIL said in a filing with BSE.

In a revision by CIL in May this year, prices of WCL’s coal had been fixed at the same rate as that of other subsidiaries but as the cost of mining at WCL is higher due to the high stripping ratio, the company has decided to increase prices by 10%, a company official said.

The hike is applicable for Grades 6-17 of coal for power and other consuming sectors (except steel), a company official said.

The decision was taken at a board meeting in Delhi on December 16.

In another decision, the board approved revision of raw non-coking coal sizing charges and rapid loading charges with effect from December 17. This hike would fetch an additional Rs 197 crore to the company this year.

“This will be applicable to all subsidiaries of Coal India Limited for regulated and non-regulated sectors,” the filing said.